For much of the year, silver was moving sideways, while gold marked one all-time high after another. The script has flipped this month.
Silver has gained 12% in June so far, while gold prices are up 2.7%. The silver market is benefiting from new applications in solar panels, while traders may also be searching for other stores of value after exhaustion from gold’s 25 record highs this year.
On Tuesday, silver prices popped by 1.2% to $36.945, while gold prices were dropping. The question now is whether this is a small detour for silver or a start of a longer-term outperformance. Investors typically prefer gold over silver in times of distress, like a war.
Over the past year, silver’s gain is about half the 46% gain in gold prices.
Shared by Golden State Mint on GoldenStateMint.com
