For all the well-deserved attention being paid to the rocketing price of gold, the price of silver was rising early Friday at more than twice the rate of gold as Indian investors piled into the white metal.

Although silver has not been setting record highs in recent weeks, as has gold, it was surging at 8:35 a.m. EDT in electronic trading on the CME Comex division of the New York Mercantile Exchange.

Silver for September delivery, the most actively traded contract, jumped to $41.79 from Thursday's closing price of $40.68, a 2.79 percent gain.

Gold, meanwhile, rose to $1,844.80 from Thursday's closing price of $1,822, a 1.25 percent gain.

Meanwhile, iShares Silver Trust, an exchange-traded fund that is backed by physical silver jumped in premarket trading 3.38 percent.

In India's Multi Commodity Exchange the price of silver was up more than 6 percent, according to CommodityOnline.