Silver Price Rise to Record Highs
Silver, the less popular of precious metals, is experiencing a remarkable resurgence, breaking a four-decade-old price record to hit $53 per ounce.
Industrial Demand and Safe-Haven Flight
The current rise is due to increased demand for silver as both an industrial metal and a traditional safe-haven asset. About 60% of silver's use originates from industrial applications, driven by the world's shift towards green energy and advanced technology telecommunications.
Unlike gold, which is primarily driven by investment demand, silver's gains have been far bigger, making it an attractive option.
Silver’s gains have been far bigger than gold’s, which were already outstanding.
Author's summary: Silver price hits record high.