Historic Silver Squeeze Deepens as Prices Soar in London Market

Silver surged toward a record above $50 an ounce as a historic squeeze deepened in the London market.

Spot prices rose as much as 3.7%, closing in on a peak set during a notorious attempt to corner the global silver market in the 1980s.

This time around, the jump in prices has been driven by a flood of investment into the precious-metals markets as investors seek security in the face of fiscal uncertainties in the US, concerns over an overheating stock market and threats to the Federal Reserve’s independence.

Silver is up more than 70% this year, far outpacing gold’s ...