Why silver is the new gold
Safe-haven demand and solar panels have sent its price soaring
It is a fabulous time to be a gold bug. Not long ago, outing yourself as one was a good way of getting people to back away from you at an investment conference. The popular image was of someone in possession of their own electricity generator, stacks of water-purification tablets and several years’ supply of tinned food. Now it just features a shrewd investor. Since the start of 2023 the shiniest asset’s price has soared by nearly 60% in dollars. That is more than any of the world’s leading share indices—including, after a turbulent couple of weeks, America’s S&P 500.
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This article appeared in the Finance & economics section of the print edition under the headline “The new gold”
From the March 8th 2025 edition
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