The metal traded around $52.99 per ounce late Wednesday, after briefly reaching $53.60 during the session. That compares with roughly $49.69 on November 3, before the U.S. midterm election result was fully absorbed by markets. Using CompaniesMarketCap’s methodology, which estimates silver’s value by multiplying its spot price by the roughly 1.751 million metric tons believed to have been mined throughout history, the move has added approximately $186 billion to silver’s estimated market value.