Silver has outshined its sister metal since the U.K.’s decision to leave the European Union sparked turmoil in global equities markets, and the rally could lift the white metal to a three-year high.
Gold and silver futures have reached their highest levels in about 2 years. On Wednesday, gold futures settled at $1,367.10 an ounce, marking their highest finish since March 2014, while silver futures hit a 23-month high of $20.203 an ounce.
Silver prices are set to surpass some analysts’ $21 to $22 predictions from earlier this year and talk of $25, $27, and even $32 an ounce have emerged. Those levels would take prices to their highest since at least 2013.
Like gold, silver’s climb isn't just about Brexit, or the U.K.’s EU exit.
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