On January 18, 1980, silver reached an all-time high price of $49.45/troy ounce. This surge was largely due to the Hunt brothers, who attempted to corner the silver market by buying large amounts of silver and silver futures contracts, consequently driving up the demand and spot price of the precious metal. In fact, it was estimated that the brothers possessed 1/3 of the world’s supply that governments did not already own. This led to an eventual steep fall in silver prices that culminated in what is known as “Silver Thursday” on March 27, 1980.
What is the highest spot price of silver ever?
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