Silver futures surged to a historic $75 per ounce on December 26, capping off a breathtaking rally that has pushed the metal into uncharted territory. The move has been driven in large part by acute physical shortages in China, where a retail buying frenzy has collided with tight supply, sending prices sharply higher. Month to date, COMEX silver – as tracked by the iShares Silver Trust (NYSE:SLV) – is up roughly 30%, putting it on pace for its best monthly performance since December 1979. On a year-to-date ...

Bloomberg The value of China’s only pure-play silver fund plunged by its maximum daily limit of 10% on Thursday, ending a frenzied bull run that had prompted its manager to issue a rare series of warnings. The abrupt decline in the UBS SDIC Silver Futures Fund LOF follows weeks of gains – flagged as “unsustainable” by the fund’s manager – fueled by rising global interest in precious metals. Spot silver hit a record high of $72.70 an ounce on Wednesday and is on track for its best annual performance since ...