Silver Price Rise to Record Highs
Silver, the less popular of precious metals, is experiencing a remarkable resurgence, breaking a four-decade-old price record to hit $53 per ounce.
The current rise is driven by increased demand for silver as both an industrial metal and a traditional safe-haven asset. About 60% of silver's use comes from industrial applications, whereas gold price is primarily driven by investment demand.
Industrial demand has skyrocketed as the world moves toward green energy and advanced technology telecommunications.
Silver’s gains have been far bigger than gold’s, which were already outstanding.
Why It Might Not Be Too Late To Buy
With silver's price at record highs, it may still be a good time to invest, given its growing demand and potential for continued growth.
Author's summary: Silver price hits record high due to industrial demand.
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