With a price of 50.13 dollars per ounce (31.1 grams) in futures trading, the previous record was broken, which was set in 1980 during one of the largest commodity scandals of all time.
Adjusted for inflation, however, it is still a bit away – then a price of around 200 dollars per ounce is required.
With a price increase of 73 percent this year, silver is one of the most sought-after commodities of the year, even hotter than gold whose price has increased by 56 percent. Both metals are seen as safe havens in uncertain times by investors.
Silver has also been favored by the development surrounding AI, electric cars and renewable energy.
The price rose sharply and reached 48.70 dollars per ounce in January 1980 due to the Bunker brothers, Herbert and Lamar Hunt's price manipulation. The brothers bought up large quantities of silver, took out loans and bought silver mines. After the authorities reacted to the setup, the price collapsed.
