Silver Crushes Even Gold as it Powers to 2-Year High

Metal leaps to levels last seen in July 2014

by Victor Reklaitis
Market Watch

Silver futures aren’t taking it easy during the Independence Day holiday.

September silver SIU6, +4.25% is leaping 4.4% to $20.45 an ounce on Monday. The contract even briefly traded as high as $21.23 an ounce, according to FactSet data.

The metal has touched levels last seen in July 2014, as shown in the chart below.

[…] August gold is gaining Monday as well, but it’s only up about 1%.

Analysts say silver and gold are both benefiting from haven demand as investors worry about the U.K.’s June 23 vote to leave the European Union. And silver isn’t just a safety play in the Brexit unrest.

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