XTB Asks, Is Silver the “New Bitcoin”

XTB Asks, Is Silver the “New Bitcoin”

With continued global and financial uncertainty, traders and investors are looking for the safest ways for themselves to protect and store their value. This has led to to the price of precious metals skyrocketing, with the price of gold setting an all time high record at $1944, breaking the 2011 record of $1912 per ounce of gold. Although this is extremely noteworthy, it is very important to see the continuing momentum of silver prices; Silver was up 6% on the day yesterday, while being up over 21% this week and over 36% growth this month! This is going on all as the US Dollar is most likely going to continue be in inflated as more policies are introduced to try and ease the economic burden of America.


These signs, with gold prices hitting all time highs and silver prices gaining massive value over the last month, point to traders expecting financial and economic uncertainty in the upcoming future. This uncertainty will most likely send investors and traders looking for the most stable and least affected assets to becoming involved in, so it is not surprising to see assets such as precious metals and cryptocurrencies continuing to gain value.

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