Silver Outperforms Gold as Prices Reach Record Highs
Silver has seen a significant surge of about 75% this year, outpacing gold's 59% gain. Analysts predict its value could 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 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 viewed as a more affordable alternative to gold during times of geopolitical tensions and economic uncertainty.
Investors have been flocking to tangible assets like gold and silver, with silver tend to follow gold upwards.
Author's summary: Silver prices surge 75% this year.
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