Industry officials reported Friday that banks have suspended the sale of silver bars due to soaring demand, fueled by rising global uncertainties linked to U.S. President Donald Trump’s tariff threats.

Previously, financial institutions also halted the sale of gold bars, which have become the preferred safe-haven asset in recent months.

According to Newsis, a representative from the Korea Gold Exchange showcased silver bars in central Seoul on Sept. 19.

As gold and silver prices climbed sharply, demand surged beyond available supply, prompting the Korea Minting and Security Printing Corp. to cease gold bar distribution to banks on Wednesday.

Meanwhile, the Korea Gold Exchange has discontinued bank sales of 10-gram and 100-gram gold bars since October, though it continued offering 1-kilogram bars.

However, with silver prices also experiencing a significant spike, the exchange informed banks on Thursday that silver bar sales would be suspended. Additionally, it announced that the remaining stock of 1-kilogram gold bars would no longer be available.

The suspension of silver bar sales primarily affects KB Kookmin Bank, Shinhan Bank, Woori Bank, and NH NongHyup Bank.

“As gold prices have reached record highs, a shortage of gold bars emerged. As a result, investors turned to silver bars, driving up demand,” an official from a major bank stated.

Some financial institutions continued selling gold and silver bars by drawing from existing stockpiles or sourcing from alternative suppliers. However, once these reserves are depleted, sales are expected to cease.

Gold is widely regarded as a safe-haven asset, gaining value during political and economic uncertainty periods.

Following Trump’s election, demand for these assets has risen sharply, pushing prices to new highs. International gold futures have repeatedly set records throughout the year.

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