Hedging demand meets a tight market, spot silver hits a decades-long high

The price of spot silver has soared to its highest level in decades, as investors increasingly turn to precious metals for safe-haven assets while the market becomes tight. On Thursday, silver prices rose by 1.9%, reaching $49.824 per ounce, marking the highest intraday price tracked by Bloomberg since 1993, surpassing the record high of 2011. Concerns over U.S. fiscal risks, an overheated stock market, and threats to the independence of the Federal Reserve have prompted investors to seek safe-haven assets. Meanwhile, a shortage of silver supply in the key London market has also supported prices, significantly increasing the cost of borrowing the metal