Silver climbed above $50 per ounce on Friday, after hitting a record high of $51.30 in the previous session, and was poised for its eighth straight weekly gain amid strong safe-haven demand and ongoing supply constraints. The metal has soared more than 70% this year - outpacing gold - as investors react to growing US fiscal risks, expectations of lower interest rates, concerns over Federal Reserve independence, and mounting global debt pressures. Political uncertainty stemming from the US government shutdown, unrest in France, and leadership changes in Japan has further fueled demand. At the same time, a shortage of freely available silver in the London market has added upward pressure on prices. With demand spanning both investment and industrial uses - from solar panels to wind turbines - silver consumption is projected to exceed supply for a fifth consecutive year in 2025.