Silver and platinum are exploding higher as investors rotate out of gold, triggering a powerful surge fueled by dollar weakness, soaring ETF inflows, and tightening industrial supply.
Silver and Platinum Prices Soar With US Debt Mounting and Demand Tightening
Silver and platinum rallied sharply in June as investors diversified away from gold amid rising concerns over U.S. dollar weakness. Silver climbed above $36 per ounce, a 13-year high, while platinum hit $1,273, its strongest level in four years. Both metals have advanced substantially, driven by fears that gold may now be overvalued. With the dollar’s safe-haven appeal diminishing, market participants are shifting to other precious metals with solid industrial fundamentals.
MKS Pamp analyst Nicky Shiels was quoted by the Financial Times as saying: “Gold is the preferred dollar hedge, and this is the next iteration of that trade.
The analyst added that the current gold-to-silver ratio of 93—well above the historical average—signals that silver remains undervalued.