Historic Silver Squeeze Deepens as Prices Soar in London Market

Silver surged towards all-time highs above $50 an ounce as a historic squeeze deepened in the London market.

Spot prices rose as much as 3.7% to more than $51 an ounce before paring some gains, extending the winning streak to a third day, while the cost of borrowing the precious metal for one month in London reached an annualized record of 35%. Gold and palladium also rose.