Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, outpacing gold's 59% gain, with analysts expecting its value to double in the coming years as investors seek safe-haven assets.
Spot silver recently exceeded the historic level of $50 per troy ounce in New York, surpassing a record set in 1980, and was trading at over $52 at the time of publishing.
- Silver bars are in high demand due to geopolitical tensions and economic uncertainties.
- Investors view silver as a more affordable safe-haven alternative to gold.
"There’s just a lot of concern about the global economy, and when that happens, people turn to hard assets like silver,"
according to Michael DiRienzo, CEO of the Silver Institute.
DiRienzo also noted that "Silver tends to follow gold upwards."
Author's summary: Silver prices outpace gold's gains.