(Bloomberg) -- Silver futures are latching on to gold’s rally, climbing above $20 an ounce to the highest since 2016 on rising haven demand and concerns about supply of the white metal.

Silver futures for September delivery jumped 1.6% to $20.075 an ounce at $8:21 a.m. on the Comex in New York, the first time the metal topped $20 since Septmeber 2016.

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