Silver shines bright as the best-performing commodity of 2024

Silver prices (Symbol: XAGUSD) have been on an upward trajectory in 2024 with 21% year-to-date, making it one of the best-performing commodities this year. Silver has outperformed its metallic counterparts, gold and copper, as well as the S&P 500 index.

Despite a challenging environment for precious metals, with high interest rates, tapering inflation, and a robust stock market, silver has surged to around $30 an ounce, its highest level since 2012. This rally is remarkable given the unfavorable conditions typically faced by precious metals in such an environment.

Find out why silver outperforms gold.