Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the less glamorous metal benefits from robust financial and industrial demand.

Gold retreated after hitting a fresh record as investors weighed remarks from policymakers ahead of a key jobs report due Friday.

Gold surged above $2,200 an ounce for the first time as investors grew more confident about the Federal Reserve’s path for rate cuts, boosting the appeal of non-interest bearing bullion.

Gold isn’t losing its allure, according to a dozen money managers who all told Bloomberg News they expect to maintain or raise their exposure to the precious metal in the coming 12 months.

Agricultural commodities fell, offering some reprieve to rampant food inflation, as traders weigh incoming data on harvests and looming recessions in some major economies.