Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, exceeding gold's 59% gain, with analysts expecting its value to double in the coming years as investors seek safe-haven assets.
Spot silver recently surpassed the historic level of $50 per troy ounce in New York, surpassing 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, in an interview with CNN. Silver tends to follow gold upwards, often seen as a more affordable safe-haven alternative amidst geopolitical tensions and economic uncertainties.
- Silver has gained about 75% this year.
- Gold has gained 59% this year.
- Spot silver surpassed $50 per troy ounce, a record last seen in 1980.
Author's summary: Silver outperforms gold with 75% gain this year.
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