Silver Outperforms Gold as Prices Reach Record Highs
Silver has surged approximately 75% this year, outpacing gold's 59% gain, with analysts expecting its value to double in the coming years as investors seek safe-haven assets.
Spot silver recently exceeded the historic level of $50 per troy ounce in New York, surpassing a record set in 1980, and was trading 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.
- Silver's price increase: approximately 75% this year
- Gold's price increase: 59% this year
- Spot silver's recent price: over $52 per troy ounce
Author's summary: Silver's value surges as investors seek safe-haven assets.
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