Silver is set to outshine gold, even as prices of both precious metals soar in the midst of a faltering global economy and a weakening U.S. dollar, CNBC reports. This year, gold prices have shot to record highs not seen since September 2011. Gold prices hit a new record close of US$2,021 per ounce overnight — settling above US$2,000 for the first time. The Beirut blast, which killed dozens and wounded thousands, “probably (added) to the shine of Gold above $2020,” said a note from Mizuho Bank. Meanwhile, silver prices have also followed suit, shooting up more than 30 percent year to date.

Source: The Standard August 05, 2020 04:30 UTC