By Leslie Hook
Financial Times, London
Thursday, June 12, 2025
Investors are pouring into silver and platinum as they seek "gold alternatives" and hedges against the U.S. dollar, sending prices for both metals soaring.
With the U.S. dollar's status as a safe haven for global capital under threat, gold has enjoyed a historic rally, surging 25% since the beginning of the year as investors use it as a hedge against uncertainty.
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However, amid concerns that gold may now be overvalued, other precious metals such as silver and platinum are starting to catch up. Silver prices have surged to a 13-year high, and platinum prices are at their highest levels in four years, with both metals up more than 10 per cent this month.
"Gold is the preferred dollar hedge, and this is the next iteration of that trade," said Nicky Shiels, analyst at MKS Pamp, a bullion refiner. "Gold has almost doubled" in the last two years "and it is the 'what's next?' mentality."
Shiels said concerns about excessive U.S. government borrowing were pushing investors to seek alternatives to the dollar. ...
... For the remainder of the report:
https://www.ft.com/content/69d15526-97d2-476a-9699-e341f26118f2 [2]
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