Gold futures are now trading at around $1,770 an ounce.
Precious metals prices are rising as a hedge against currency depreciation in light of central bank measures. The outperformance in silver prices provides a strong, bullish signal for the metal.
“While silver trades more volatile than gold, when the fundamentals for the safe-haven trade are in place, it performs extremely well and is affordable for any investor seeking refuge from the equity and bond markets or looking to hedge the dollar,” Dawn Bennett, portfolio manager of the Bennett Group of Funds, said in a Investor’s Business Daily article.
For more information on silver, visit our silver category.
Max Chen contributed to this article.