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Silver shines bright as the best-performing commodity of 2024

Silver prices (Symbol: XAGUSD) have been on an upward trajectory in 2024 with 21% year-to-date, making it one of the best-performing commodities this year. Silver has outperformed its metallic counterparts, gold and copper, as well as the S&P 500 index. Despite a challenging environment for precious metals, with high interest rates, tapering inflation, and a robust stock market, silver has surged to around $30 an ounce, its highest level since 2012. This rally is remarkable given the unfavorable conditions typically faced by precious metals in such an environment. Find out why silver outperforms gold.

why silver outperforms

Disclaimer:

While the frequent price swings offer numerous entry and exit points, day traders looking to profit from short-term price movements should have your own trading strategy and risk management plan.

Publication date:

2024-07-02 05:22:31 (GMT)

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