Silver prices broke past a historic ceiling on Thursday, climbing to $50 per ounce and smashing the previous record set in April 2011, as investors continue piling into precious metals on bets that Federal Reserve rate cuts will continue.
The grey metal – as tracked by the iShares Silver Trust (NYSE:SLV) is now up 73% year to date, on pace for its strongest annual performance since 2010 when it gained 83%. The only stronger year on record remains 1979, when silver surged 360%.
