FACTBOX-How silver is traded, from stocks and shares to coins and bars

Silver surged past $75 an ounce for the first time on Friday, propelled by strong industrial and investment demand, persistent supply shortfalls, its recent designation as a U.S. critical mineral, and a ?wave of momentum-driven buying. Spot silver has climbed over 150% year-to-date, significantly outpacing gold’s gain of more than 70%. So how does silver trade? OVER THE COUNTER The biggest marketplace for physical silver (and gold) is London, where ?banks and brokers handle buy and sell orders from clients across the world. Trading is done bilaterally over the counter (OTC) between financial institutions, and an investor must have a…