Silver Outperforms Gold as Prices Reach Record Highs
Silver has seen a significant surge of about 75% this year, exceeding gold's 59% gain. Analysts predict its value could double in the coming years as investors seek safe-haven assets.
Recently, spot silver surpassed the historic level of $50 per troy ounce in New York, breaking a record set in 1980, and was trading at over $52 at the time of publication.
- Silver bars are in high demand due to geopolitical tensions and economic uncertainties.
- Investors view silver as a more affordable alternative to gold for a safe-haven asset.
"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's upward trend, making it an attractive option for investors seeking stability.
Author's summary: Silver prices surge 75% this year.