Silver Prices rose to a 9-year high after Berkshire Hathaway, the investment company of renowned U.S. investor Warren Buffett, said it had amassed 130m. oz of the metal in the six months to Jan. 12. Tight market conditions sent 3-month silver lease rates above 20% per annum in early Feb., up from the normal 2%. CPM Group said refined supplies trailed demand for the eighth straight year in 1997. Refined supplies (including official disposals, scrap recovery and mine output) rose 5.8% to 585m. oz while demand hit 799m. India, which imported 110m. oz in 1997, virtually stopped buying after the recent price spike. India could cut im-ports by half if prices stay above the $7/oz level.