Silver price charges to record high, tracking gold’s rally

Silver surged to a new all-time high on Wednesday, as the metal rode the coattails of the record-setting gold price rally.

Spot silver climbed as much as 3.4% to $49.55 per ounce, surpassing its record high from 1980.

Silver futures for December delivery also gained 3.2% to $49.20 per ounce in New York.

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The precious metal is benefiting from the same factors driving gold to successive records in recent sessions, namely mounting political and economic uncertainty...