Silver's Gains Outpace Gold's as Prices Hit Record Highs
Silver has surged about 75% this year, outperforming gold's 59% gain, and analysts expect its value to double in the coming years as investors flock to safe-haven assets.
Spot silver last week surpassed the historic level of $50 per troy ounce in New York, eclipsing a record set in 1980, and was hovering at over $52 at the time of publishing.
- Silver bars are in high demand as investors seek tangible assets.
- Geopolitical tensions and economic uncertainties drive investors to gold and silver.
"There’s just a lot of concern about the global economy, and when that happens, people turn to hard assets like silver,"
Michael DiRienzo, CEO of the Silver Institute, notes that silver tends to follow gold upwards.
Author's summary: Silver prices surge 75% this year.
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