Gold continues to drift higher in the aftermath of the Federal Reserve interest rate cuts this week. The yellow metal has climbed above the $2,600 level and looks to finish the week strong.
Silver has recently started to move up faster than gold after having failed to outperform during prior gold rallies.
The "poor man's gold" is known for its big moves during a gold bull market, but it's important to remember that gold almost always starts out stronger, with silver ultimately playing catch up.
If the move up in precious metals prices continues further from here, it's likely silver will begin to lead.
Of course, the expectations of notoriously impatient silver investors have tended to be high over the years.
Some disappointment is warranted, at least on a longer term basis. In fact, silver is today still trading substantially below its highs of $50 reached back in 1980 and 2011.
If you adjust those prior silver price peaks for inflation, the true historic highs are dramatically higher in terms of today's dollars (almost $200).
It's important to keep some perspective... and never go all-in on any investment thesis. But those who have been diversifying their cash away from the ailing Federal Reserve note by accumulating gold and silver are looking pretty smart these days.
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