Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, exceeding gold's 59% gain. Analysts anticipate 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 is often seen as a more affordable safe-haven alternative to gold amid geopolitical tensions and economic uncertainties.
Investors have flocked to tangible assets like gold and silver, driving up demand and prices. The Silver Institute expects silver's value to continue growing in the coming years.
Author's summary: Silver prices reach record highs, outpacing gold.
- Silver has surged 75% this year.
- Analysts expect silver's value to double in the coming years.
- Spot silver surpassed $50 per troy ounce, a historic level.
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