Trading on the London silver market was in turmoil on Friday when the physical availability of metal was outstripped by the paper demand and leasing rates for silver soared to 39%.

The lack of metal to underpin silver sales and high leasing rates meant that trading was suspended as silver exceeded $50/oz. With the physical movement of thousands of silver bars to London over the weekend, hopes are high that liquidity will improve and trading will recommence on Monday morning.

Monday pm update: Trading of silver on the London markets has continued to be in disarray with no sign yet of renewed buying and selling activity.