Silver prices jump over 4% to reclaim $51/oz as Democrats secure US midterm victory. What’s happening?

Silver prices surged over 4% to reclaim the $51/oz mark after Democrats secured a victory in the US midterm elections, weakening the dollar and Treasury yields. However, HSBC expects further gains to be limited as silver trades close to levels justified by fundamentals. Industrial and jewellery demand may weaken, while institutional buying and supply constraints could offer support.