Core Viewpoint - The price of spot silver has surged significantly due to market tightening, with investors increasingly seeking refuge in precious metals [1] Group 1: Price Movement - Spot silver prices rose over 2% in a single day, surpassing $50 per ounce, marking the highest daily figure since 1993 and exceeding the peak in 2011 [1] - Year-to-date, silver prices have increased by over 70%, outpacing the record rise in gold prices [1] Group 2: Market Drivers - Concerns over U.S. fiscal risks, an overheated stock market, and threats to the independence of the Federal Reserve have led investors to look for safe-haven assets [1] - A shortage of freely available silver in key London markets has supported prices and significantly increased the cost of borrowing silver [1]