Will silver surpass gold by 2024?
Source Holland Gold / May 17. 2024
Economic News / Investing in silver /
Silver has experienced an impressive rise of almost a quarter this year, leaving gold far behind and making it one of the best-performing commodities of 2024.
Despite this increase, silver remains relatively cheap. Currently, it takes about 80 ounces of silver to purchase 1 ounce of gold, compared to a 20-year average of 68.
Demand for silver is increasing
Both gold and silver have similar properties when it comes to macroeconomic properties and currency hedging. While the gold price reached a record high due to central bank purchases and renewed retail interest in China,
the silver price is benefiting from this trend. While there has been little investor interest in silver-related exchange-traded funds (ETFs), physical sales of silver have increased.
This is a trend that we also see at Holland Gold. More and more people want to buy silver through silver bars and silver coins.
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