Shanghai silver prices have surged to a record \~$124/oz, while US spot silver is around \~$108/oz.
That’s a ₹16/oz premium in China vs Western markets , one of the largest premiums ever recorded.
This kind of gap usually doesn’t happen unless:
• Physical supply is tight
• Demand is extremely strong
• Paper vs physical markets are diverging
Looks like the global physical silver shortage is intensifying.