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Gold Nears Record, Silver at Six-Year High on Spur From Stimulus

  • Silver futures are up 16% this month, outpacing gold’s gain
  • Citi sees silver prices rising to $25/oz in six to 12 months
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Citi's Morse Recommends ETFs for Gold Exposure
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Precious metals are soaring to multi-year highs on the back of persistent concerns over the coronavirus and the outlook for further economic stimulus worldwide.

Gold futures surged to an almost nine-year peak and silver touched the highest since 2014 after Hong Kong reported additional cases of the virus and new infections in the Australian state of Victoria surged, fueling demand for haven assets. European Union leaders agreed on an unprecedented stimulus package to pull their economies out of a virus-induced recession. Silver, used in manufactured products ranging from solar panels to electronics, is getting an added boost from supply concerns and bets on a rebound in industrial demand.