"This week, the price of gold topped $3,700 per ounce, roughly twice its level two years ago - and the precious metal is on track for a record year. The high unit price for gold bars and coins could have some collectors feeling priced out of the market. A one-ounce gold bar or coin, like the Golden Eagle, is now worth as much as a well-used car."
"In percentage terms, silver's rally of 47% this year so far outpaces gold's 39%, as of midday Friday. The two-year gains for both metals are remarkably similar. "If gold keeps going up, silver, with a lag, will do the same," said Ed Yardeni, a market veteran and president of consulting firmYardeni Research. He expects gold to reach $4,000 by the end of this year, as some other Wall Street investors have predicted."
""Gains in gold attract ancillary buying in silver, possibly by investors who have not taken full advantage of the gold rally," HSBC precious metals analyst James Steel wrote in a note last month."
Gold has roughly doubled over two years and topped $3,700 per ounce, placing the metal on track for a record year and making one-ounce pieces comparable in value to a used car. High unit prices for gold bars and coins are creating affordability pressure for some collectors. Silver has risen about 47% this year, outpacing gold's 39% year-to-date, though silver shows greater volatility. Analysts note silver often follows gold with a lag and that gains in gold can drive ancillary silver buying. Silver's lower per-ounce price around $43 offers an accessible entry point for novice collectors, despite greater storage needs.
Read at Business Insider
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