Investors are pouring into silver and platinum as they seek “gold alternatives” and hedges against the US dollar, sending prices for both metals soaring.
With the US dollar’s status as a safe haven for global capital under threat, gold has enjoyed a historic rally, surging 25 per cent since the beginning of the year as investors use it as a hedge against uncertainty.
However, amid concerns that gold may now be overvalued, other precious metals such as silver and platinum are starting to catch up. Silver prices have surged to a 13-year high, and platinum prices are at their highest levels in four years, with both metals up more than 10 per cent this month.