Silver could be reaching gold status. The precious metal has climbed to its highest level in nearly 12 years. The price is up about 34-percent year-to-date. Which is actually outpacing gold. Silver is considered a safe-haven investment and a key industrial commodity. Unlike gold, a bulk of the demand for silver comes from the industrial sector. Right now, it’s particularly popular in solar-panel manufacturing. One expert expects silver’s rally to continue because of consecutive interest rate cuts and China’s continued stimulus. Spot gold was also up yesterday and reached a record high earlier in the day. And it could keep climbing if there are more rate cuts, since lower interest rates boost the appeal of non-yielding gold.
Silver Hits 12-Year High, Outpacing Gold | Business Matters (Sept. 27)
By NTD Newsroom