Jul 29, 2020 - Economy & Business

Silver becomes 2020's top major asset

A chart
Data: FactSet; Chart: Axios Visuals

Silver is the top-performing major asset of 2020, displacing orange juice, according to a Wall Street Journal analysis, after a gain of nearly 34% since July 1.

What's happening: The rally has been boosted by a fast-falling U.S. dollar, concern about the U.S. economy amid the coronavirus pandemic, and increasing tension in the U.S.-China trade war, analysts say.

  • The combination of unprecedented government and central bank stimulus measures around the globe and fears about further growth have investors betting big on precious metals.
  • Copper and aluminum also have been well bid in recent weeks.

Of note: Trading volume in silver rose to its highest since September 2019 last week.

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