Silver catching up with gold rally, price spike sharply in global market

After consolidating for a few days, gold and silver prices spiked yesterday on fears that inverse short- and long-term bond yields in the United States will lead to recession

Silver prices reached a three-year high at the spot market here, closing 3.7 per cent higher at Rs 46,840 a kg, the highest since September 2016. 

The metal has given a 29.5 per cent return in three months. On the Multi Commodity Exchange, the September silver contract which expires next week is trading at Rs 46,600 a kg. The December contract has reached Rs 48,000 a kg. 

On Tuesday, silver started moving faster than gold on the Comex, (benchmark exchange for bullion derivatives and a division of the Chicago Mercantile Exchange) on worry that the  inverse short-term and long-term bond yield in