Silver prices have experienced a significant increase, rising over 6% to exceed $33.6 per ounce. This unexpected surge has put five U.S. banks at risk of substantial financial losses due to their large short positions in the metal. What Happened: The recent spike in silver prices has led to potential losses for these banks, estimated at billions of dollars, according to a report by The Silver Academy. The Commodities Futures Trading Commission (CFTC) reports that open interest in silver futures contracts has reached 141,580 contracts, each representing 5,000 ounces. This amounts to approximate…