Silver, a much cheaper alternative to gold, has been gaining significantly in value in the last few sessions. Last Friday, silver gained over 6% and thus broke through local peaks from the beginning of October. Currently, it is approaching the level of $35.3 per ounce, the highest level in 12 years (from October 2012). If silver breaks through these levels, it will reach its highest level since February 2012.
This year's silver growth is one of the largest in history. Currently, silver is gaining about 44% and this will be the largest increase since 2020. However, it is still far from the 80% growth of 2010. This all shows that price movements in silver (both up and down) can be much stronger than in the case of gold. Currently, gold is gaining over 30% this year and is testing new historical highs. However, it is worth mentioning that the gold-to-silver ratio has fallen below 80 points, although it was still around 90 points recently.
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