Investors Are Pouring Record Amounts Into Wall Street’s New Favorite ‘Safe Haven’

by Rey Mashayekhi

Gold has drawn plenty of headlines this summer, as that most coveted of precious metals has been on a historic rally that saw prices break the vaunted $2,000-per-ounce barrier in early August.

But it’s the less lustrous silver that’s having a moment. Silver prices have climbed roughly 60% since the start of 2020 and closed at more than $28 per ounce on Monday, with the metal trading at levels not seen in more than seven years.

Silver’s rally has been motivated by many of the same market factors that have driven gold prices to historic highs this year. Just as gold has long been considered a “safe haven” for investors wary of tumultuous macroeconomic conditions, silver has similarly emerged as an option for those uncertain about what the future may hold for equities and other riskier bets.

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