- Reuters/Issei Kato
Silver is finally catching up to gold.
The price of silver has rallied over the last week. The price of gold is now around as much as 75 times that of silver, down from March, when it was around as much as 83 times that of silver, according to figures cited by analysts at Capital Economics.
“Admittedly, the surge in the silver price has also been flattered by the recent weakness in the US dollar, which may not be sustained if the Fed hikes rates sooner rather than later,” the Capital Economics team argued.
“Nonetheless, further recovery in industrial metals prices should see silver continue to outperform gold over the next few years,” the team said.
Typically, silver prices closely track gold prices, which means that when gold surges, silver follows soon after.
Silver is up 4.44%, up at $16.98 an ounce as of 3:02 p.m., after reaching as high as $17.02 an ounce earlier in the morning.
- Capital Economics