Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, exceeding gold's 59% gain. Analysts predict its value will 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, breaking a record set in 1980, and was valued 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 - Michael DiRienzo, CEO of the Silver Institute
Investors have turned to tangible assets like gold and silver amid geopolitical tensions and economic uncertainties, with silver often seen as a more affordable safe-haven alternative.
- Silver's value has increased by about 75% this year.
- Gold's value has increased by 59% this year.
- Silver surpassed the historic level of $50 per troy ounce in New York.
Author's summary: Silver outperforms gold as prices hit record highs.