Gold is up over 7% on Thursday, but investors may be surprised to learn it is now cheaper than silver.
The US dollar, which has gained more than 50% since hitting a record low of $1,266.50 in late June, is up 7.5% against a basket of currencies, the latest example of the ongoing global market turmoil.
While the US dollar is up by a lot, silver has risen almost 14% over the past three months.
Silver is up around 3% this year compared with this time last year, but the price has fallen by more than 30% this decade, after the global economic crisis and a global war.
The rally is also being driven by a surge in demand from investors.
The price of gold and silver has soared in recent weeks, with a record $1.3tn (€1.15tn) in gold coins sold in the first six months of the year, according to data from the US Mint.
Gold prices are now down about 20% from last year’s peak of $8,854 per ounce.
Silver has risen by an average of 4.5%.
The US gold and precious metals market is the largest in the world, accounting for about 12% of global economic output.
The price of silver, meanwhile, has risen more than 20% over that time.
The most important factors behind the recent gold price rally are:The price surge in silver prices is fueled by the surge in gold prices.
The US government has kept a low interest rate on the US government’s reserve currency, the dollar.
The reason for that is to help keep interest rates low.
Gold and silver have also been driven by the global recession.
Gold is the second-largest metal in the US after silver.
Silver and gold have both risen because of the weak global economy.
Silver has fallen about 30% from its peak of around $1k per ounce in late 2016.
It is now down more than 10%.
The price rise in gold and the recent price rise for silver are the biggest factors behind both the gold and platinum price increases.
Gold is the third-largest reserve currency in the entire world.
Silver is the fourth-largest.
Silver prices are up almost 14%.
Gold prices are down about 40%.