Jul 22, 2020 - Economy
2020's asset bonanza: Silver and gold are surging
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Silver prices jumped to the highest in almost seven years and gold moved closer to a record high on Tuesday as silver rose by nearly 6%.
Between the lines: The two precious metals are running just behind the Nasdaq in terms of performance over the past year and year to date.
- Nasdaq's climb since March 23 has made it one of the best performing assets in the world this year, according to FactSet data curated by the Wall Street Journal.
- The Nasdaq 100, which tracks the 100 largest companies on the tech-heavy index, now trails only orange juice for 2020 performance among major, highly followed assets.
What to watch: Bloomberg noted that holdings of gold and silver exchange-traded funds (ETFs) are at an all-time high.
