%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The price of %Silver has hit a 14-year high as metals ranging from gold to copper continue to boom across international markets. The spot price of silver is up nearly 2% on July 14 and trading close to $40 U.S. an ounce, following a 4% rally over the past week. Silver's price has risen 35% this year, including a 6% gain in the last month alone. That surpasses gold's 28% year-to-date gain. The sharp price increase has given a lift to the stocks of leading silver miners and producers such as %PanAmericanSilver (NYSE: $PAAS ), First %MajesticSilver (NYSE: $AG ), and %HeclaMining (NYSE: $HL ). Commodities analysts say silver is benefitting as investors seek alternatives to gold with the yellow metal's price near an all-time high of just over $3,500 U.S. per ounce. The rise in demand for silver has put the market under strain as most silver is held by exchange-traded funds (ETFs), meaning it isn't available to lend or buy. Since February, the volume of silver-backed ETFs has expanded by 2,570 tons, according to market data. Silver's outperformance of gold means that the ratio between the two metals has dropped in recent months, though silver still remains relatively cheap by historic measures. It currently takes about 86 ounces of silver to buy one ounce of gold, compared with a 10-year average of 80. Concerns over U.S. trade policy have also helped to push silver's price higher, say analysts. Mexico, the world's biggest producer of silver and a key supplier to the U.S. market, has been hit with a 30% tariff threat by U.S. President Donald Trump. The U.S.-Mexico-Canada Agreement on trade excludes silver from the latest levies. But some analysts are concerned about the possibility that exemptions could be threatened. Lastly, analysts say that silver benefits from being both a precious and industrial metal. Silver is used in items such as solar panels and some computers. Along with gold and silver, other metals such as platinum and copper have also seen steady gains this year amid rising demand and an investor flight to safety and diversification. Silver is currently trading at $39.14 U.S. per ounce.