U.S. silver futures on Tuesday rose as much as 6.4% to a record high of $21,323 per ounce.
Silver futures for December delivery rose 6.1% to trade at $20.28 per ounce, according to data compiled by Bloomberg.
The Dow Jones industrial average rose 24.25 points, or 0.8%, to 21,734.60.
The S&P 500 index of small-cap stocks gained 6.07 points, OR 0.3%, to 2,897.53.
Gold rose 0.2% to 1,811.53 an ounce at $1,821.17 an ounce.
Brent crude oil fell 0.5% to settle at $US20.30 a barrel.