Silver Hits Three-Year Peak, Gold at Record High

Silver prices have recently surged, overtaking the gains made by gold this year, with the metal reaching its highest price in nearly three years. Despite a general downturn in both metals during part of Thursday’s trading session, silver’s recovered nicely on Friday peaking at $29.50/oz. Gold also saw significant gains, with futures climbing by to a record high of $2,417 an ounce on Comex, marking a 14.5% increase year to date. This upward trend in precious metals comes despite the pressures of rising Treasury yields and a strong U.S. dollar, which have traditionally acted as obstacles to such gains.