Silver Stockpiles in New York Rise to Record as Tariffs Loom

Silver inventories at New York’s Comex climbed to a record high as surging prices and the prospect of import tariffs fuel a global rush to ship the metal to the US.

US silver prices have surged above international benchmarks in recent months on concerns precious metals may be included in President Donald Trump’s broad tariffs. While many market participants expect the monetary status of gold and silver to protect them from levies, the price differential is encouraging dealers, traders and investors to send the metals to the US to capture the premium.

That has led to a spike in silver ...