Silver Outperforms Gold as Prices Reach Record Highs
Silver has seen a significant surge of about 75% this year, outpacing gold's 59% gain. Analysts predict its value could double in the coming years as investors seek safe-haven assets.
Spot silver recently exceeded $50 per troy ounce in New York, surpassing a record set in 1980, and was trading at over $52 at the time of publication.
- Silver bars are a tangible asset and a more affordable safe-haven alternative to gold.
- Geopolitical tensions and economic uncertainties drive investors to silver and gold.
"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.
Silver tends to follow gold upwards, according to market trends.
Author's summary: Silver gains outpace gold as prices hit new highs.
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