Futures prices for the precious metal surged more than 6% Monday to top $50 a troy ounce.
If silver doesn’t slip during the day, it will settle at the highest level on record in New York—surpassing a longstanding record close of $48.70 an ounce, which was set when the Hunt brothers cornered the silver market in 1980.
Here in London, where a shortage of tradable metal has spooked traders, silver punched through $50 an ounce for the first time on Friday in a daily auction.
