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. At the time of publishing, it was valued at over $52.
"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 has reached a record high, surpassing $50 per troy ounce.
- Analysts expect silver's value to double in the coming years.
- Investors are flocking to tangible assets like gold and silver due to economic uncertainties.
Author's summary: Silver outperforms gold with a 75% surge this year.