As of 05:18 GMT, March silver futures on the New York Comex were up 5.33% from the prior close, at $93.243 per ounce. Minutes earlier, the price hit a record $94.35 per ounce.
Meanwhile, February gold futures rose by $73.76, or 1.6%, to $4,669.14 per troy ounce. During Monday's trading, they reached a peak of $4,697.71.