Silver Surges 7.07% as Peru's Energy Crisis Threatens Global Supply

Published: May 12, 2026 09:08

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[SMM Silver Express] Spot silver surged 7.07% on May 11, breaking above $86/oz. Peru, the world's second-largest silver producer accounting for ~14% of global output, issued an energy crisis emergency decree. With mining operations highly dependent on stable power, energy shortages are expected to reduce global marginal silver supply, further boosting prices amid low inventory levels.

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