The gold price has been breaking records for a while now, but the price of silver is also starting to rise sharply. The price for a troy ounce is now fluctuating around 32 dollars (more than 28 euros). These levels have not been seen since 2012.
According to Doijer & Kalff, the precious metal is becoming increasingly scarce. This is partly because it is used in the production of solar panels, says the gold and silver trader. Its more expensive brother gold is also bought as an investment.
The silver price usually moves – at a suitable distance – with the gold price, Doijer & Kalff explains. According to the trader, 1 gram of gold is worth 60 grams of silver. But because gold has risen so much in price, that ratio is lost. Now 1 gram of gold is worth 84 grams of silver.
