Economy

Silver hits historic high

Silver prices have reached an all-time high of about $53 per ounce.

This is reported by "Komersant Ukrainian" with reference to Bloomberg.

Spot prices on the London Oil Exchange rose by as much as 1% to $52.8983 per ounce, surpassing the peak set in January 1980 under a now-defunct contract controlled by the Chicago Board of Trade when the billionaire Hunt brothers tried to capture the market. Gold also climbed to another record high, extending eight straight weeks of gains.

Concerns about a lack of liquidity in London have sparked a global hunt for silver, with silver prices soaring to near unprecedented levels compared to New York. This is prompting some traders to book cargo slots on transatlantic flights for silver bullion, an expensive mode of transportation that is usually reserved for gold.

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