South Korea is witnessing a surge in silver demand with prices repeatedly hitting record highs, far outpacing the performance of gold. According to data from the Korea Gold Exchange, silver was trading at 2,467 won per gram (about 1.9 U.S. dollars) on October 17 - marking a nearly 70 percent increase since the beginning of the year. In Seoul's Jongno District, home to one of the country's largest precious metal trading hubs, business has been booming. Even on weekday afternoons, stores were crowded with customers inquiring and placing orders. According to a store manager, many investors have shifted their attention from gold - which requires a higher upfront investment - to more affordable silver products such as bars and commemorative plates. Since October, the shop has received orders totaling two tonnes of silver bars, 10 times more than the same period last year. The rising demand has strained supply. Major South Korean banks have reported combined silver bar sales of 10.4 billion won (about 8 million U.S. dollars) this year, 13 times higher than last year. With inventories running low, several commercial banks and precious metal platforms announced they will suspend silver bar sales starting from Monday. Shotlist: Seoul, South Korea - Recent: 1. Various of pedestrians, jewelry stores; 2. Gold products for sale; 3. Various of customers, sales staff, gold and silver products for sale; 4. SOUNDBITE (Korean) (name not given), customer (ending with shot 5): "Rather than holding cash, I think buying precious metals is a better way to preserve value. A lot of people around me are buying silver accessories - it's simply more accessible than gold."; 5. Various of customer choosing products; 6. Various of silver bars for sale; 7. Silver products shown on screen; 8. Various of silver bars; 9. Various of customers, sales staff, gold and silver products for sale. [Restriction - No access Chinese mainland]