Money surged to its highest level in decades as a historic short squeeze in London intensified, with a new price surge adding urgency to a global bullion hunt that could ease the mismatch between demand and supply.
Spot silver climbed 3.1% to nearly $52 an ounce, surpassing last week’s high, while gold topped $4,070 an ounce, building on a record run of eight weekly gains. Platinum and palladium also jumped, as market strains caused by growing investor demand begin to spread to other precious metals.
