Silver hits record high at $75/ounce, driven by China's physical shortage, up 30% in Dec and 155% YTD, best since 1979.

Silver futures hit a record high of $75 per ounce on December 26 amid an unprecedented rally driven by physical shortages in China. The surge has been fueled by a buying frenzy and tight supply, propelling prices significantly. Month to date, COMEX silver, tracked by iShares Silver Trust (NYSE: SLV), has risen by about 30%, marking its strongest monthly performance since December 1979. Year to date, silver has increased by nearly 155%, its best annual performance since the late 1970s when the Hunt brothers attempted to corner the market. "China is experiencing a severe physical silver shortage," noted 'The Kobeissi Letter' on social media, highlighting the rapid tightening of conditions in the world's largest silver consumer. For more details, the complete article is accessible on Benzinga.com.