This remarkable surge has been attributed to escalating geopolitical tensions, the revival of the trade wars, mounting inflation concerns, and of course, a very uncertain and very worrying outlook for the global economy and for the markets. As they always do, investors have once again flocked to the safe haven that gold unmistakably provides, pushing the price from record high to record high.

However, what is interesting this time is that silver has failed to grab any of the spotlight, which presents a truly rare opportunity for shrewd investors with a long-term vision.

While gold has been dominating international headlines for months already with its record-breaking performance, its "little brother" has remained relatively subdued, currently trading around $29.59 per ounce. This disparity is reflected in the gold-to-silver ratio, which currently stands above 102:1, significantly higher than the historical average of around 50:1. Such an elevated figure suggests that silver is undervalued in relation to gold, pointing to a potential correction as market dynamics evolve.

Of course, as most of my clients and readers know very well by now, my primary focus has never been fixed upon price action or the temporary fluctuations of the precious metals market. This is why I personally don't find the "$3000/oz" gold price record as exciting as many of my industry peers. Sure, it was psychological barrier and sure, it is meaningful that it was crossed with such ease, but that's not the most impressive thing about gold's performance. The bigger picture is far more interesting: the steady rise of the past years and the circumstances under which it occurred are far more telling and offered even more confirmatory evidence to those investors that hold precious metals for the right reasons.

The case for silver is similarly robust. Apart from the potential upside due to market fluctuations, the metal has an iron-clad fundamental case to support a solid outlook. In contrast to gold, silver has a kind of dual identity as both as investment asset and as an industrial metal. It has extensive applications in all kinds of industrial sectors, but especially in so-called "green technologies", such as solar panels and electric vehicles, that have seen spectacular growth thanks to the "electrification" wave.

Countless governments, especially in the West, have been pushing for years to get rid of fossil fuels in favor of renewables and they have offered extremely attractive incentives, tax cuts and subsidies to anyone promising to do that. And while the demand is certainly there, the supply is not. Decades of underinvestment have led to supply constraints and as the demand steadily rises, likely upcoming shortages.