Five Major U.S. Banks Face Billions in Losses as Surging Silver Prices Pressure Short Sellers

Silver prices have spiked significantly in October, climbing nearly 8% this month to exceed $33.60 per ounce, leaving some of the largest U.S. banks with potentially substantial losses tied to their short positions on the precious metal. This sudden increase has triggered concerns within the financial sector about potential repercussions for both the banking system and industries reliant on stable silver prices.

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First Majestic Expands Silver Portfolio Amid A Global Supply Deficit

The silver market, long overshadowed by its more illustrious cousin gold, is now capturing attention as demand outstrips supply. This can be evidenced by recent major transactions in the space. First Majestic seemingly kicked off the latest round of M&A activity, when it was announced they would be acquiring Gatos Silver (NYSE: GATO).

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