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In an interview with Bloomberg on Monday, Tyler Wall, President and CEO of gold and silver retailer SD Bullion, provided updates on the silver market.

Key quotes

Prices now are at least a 30% premium over spot prices.

Physical silver is almost all gone.

Silver jumped to a 5-1/2-month high of $29.01 early Monday and is currently trading at $28.58, representing a 6% gain on the day. 

The metal picked up a bid near $25 on Thursday after a Reddit user called a short squeeze. Prices rose 5% and 1% on Thursday and Friday, respectively. 

Also read: SilverSqueeze trends on Twitter as retail sites see high demand for the metal