Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, outpacing gold's 59% gain, with analysts predicting its value to 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 valued at over $52 at the time of publication.
- Silver bars are seen as a tangible asset and a more affordable safe-haven alternative to gold.
- Geopolitical tensions and economic uncertainties have driven investors to gold and silver.
"There's just a lot of concern about the global economy, and when that happens, people turn to hard assets like silver,"
as stated by Michael DiRienzo, CEO of the Silver Institute, in an interview with CNN.
Silver tends to follow gold upwards, according to market trends.
Author's summary: Silver prices hit record highs, outpacing gold.