Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, exceeding gold's 59% gain. Analysts anticipate its value will double in the coming years as investors seek safe-haven assets.
Spot silver 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.
"There’s just a lot of concern about the global economy, and when that happens, people turn to hard assets like silver,"
said Michael DiRienzo, CEO of the Silver Institute. Silver is often seen as a more affordable safe-haven alternative to gold amid geopolitical tensions and economic uncertainties.
- Silver surged about 75% this year.
- Gold's gain was 59%.
- Spot silver surpassed $50 per troy ounce, a record set in 1980.
Author's summary: Silver prices outpace gold as investors seek safe-haven assets.