Silver Falls as London Market Squeeze Shows Signs of Easing

Spot silver prices retreated after hitting an all-time high earlier Tuesday, as a historic squeeze in London began to show signs of easing.

Spot prices for silver fell 1.6%, after hitting a record $53.55 an ounce in London earlier Tuesday. That was about $1 higher than a peak set in January 1980 on a now-defunct contract overseen by the Chicago Board of Trade, when the billionaire Hunt brothers attempted to corner the market.