Commodities

Spot Silver Hits Highest Since 1980 as London Market Tightens

Silver is extending a surge that has lifted prices more than 70% this year.
Photographer: Carla Gottgens/Bloomberg

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By Jack Ryan and Veena Ali-Khan

October 9, 2025 at 12:19 PM UTC

Updated on

October 9, 2025 at 4:51 PM UTC

Spot silver prices jumped to the highest level in decades as surging demand for safe-haven assets ran into supply constraints in the London bullion market.

The precious metal jumped as much as 4.8% to touch $51.235 an ounce on Thursday, the highest since a notorious squeeze orchestrated by the billionaire Hunt brothers in 1980, before paring gains.