Silver Tops $21 for First Time Since ’14 as Investors Seek Haven
- Gold-silver ratio tumbles to the lowest level in two years
- Funds increase net-long futures positions to all-time high
Does the Rally in Silver Have Legs?
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Silver vaulted above $21 for the first time in two years and gold advanced for a fourth day on speculation of more central bank stimulus in the wake of the U.K.’s vote to leave the European Union. Mining shares surged.
Spot silver jumped as much as 7 percent to $21.1377 an ounce and settled at $20.3246 in New York on Monday, according to Bloomberg generic pricing. Spot gold rose as much as 1.2 percent to $1,357.63 an ounce, near a two-year high, and settled at $1,350.79.