Silver surged to an all-time high of $54.42 per ounce on Friday (October 16). In India, silver traded at ₹185 per gram and ₹1.85 lakh per kilogram.

N S Ramaswamy, Head of Commodities & CRM at Ventura, described the surge as a historic short squeeze. Global spot prices are trading at premiums over major futures contracts, driven by a near-total drying up of liquidity in London and other key trading centers.

Short sellers scrambled for physical metal and faced steep borrowing costs. In India, similar supply constraints led buyers to pay premiums over futures.

Silver’s demand is supported by its industrial applications in electronics, solar energy, and defense, accounting for roughly 59% of total usage. It also acts as a safe-haven asset amid geopolitical and economic uncertainty. Additio

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