The silver price jumped 3.5 per cent to a record high of $US52.21 on Tuesday, taking its gains this year to 73 per cent, outpacing gold’s 56 per cent gain and the S&P/ASX 200 stock index’s rise of 8.6 per cent.

Tuesday’s silver price surge saw it top a 45-year-old price record set in 1980 during the last big bull run for precious metals. This year’s run is being attributed to a silver supply shortfall as demand suddenly rises amid worries over the soundness of the global monetary system.

“You’ve got a bucket load of demand for silver as an investment tool in a similar way to gold as an inflation hedge,” said Patrick Walta, chairman of ASX-listed silver miner Broken Hill Mines. “But silver is different to gold, as its industrial use is strong in high-end tech, electronics, and solar panel

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