As bullish traders cheered the gold price breaching $US3000 an ounce this month, another commodity has quietly extended its lead over the yellow metal to become a serious contender for this year’s breakout trade.

While gold has stolen the headlines by surging a further 15 per cent to a record $US3039 an ounce, its more low-key cousin silver has jumped 17 per cent this year to $US34 an ounce.