Silver prices are outperforming gold recently with September Comex silver futures rising 4.5% on the day and breaching $28 an ounce level on Thursday. “Gold-Silver ratio is at 73.9 — new low, but bullish,” says RBC Wealth Management. The rally is projected to continue with silver reaching $30 an ounce and gold $2,100 by year-end, writes RBC Wealth Management managing director George Gero.

Investors should brace for higher volatility at these price levels. “Expect more volatility. Tomorrow’s jobs numbers, many new weak holders and Central Bank trades could have short term up and down [moves],” Gero notes. “Path of least resistance for gold and silver is up as only 88 days left for U.S. elections.”