Is Silver On The Rise? Could It Be The New Gold?

Investors are talking about gold mainly for its value and price.In the past ten years, the price of gold has increased from less than $300 to $1,500 per ounce…quite interesting for gold investors.

However, silver has performed better than gold for the past ten years.Its price has ranged from less than $5 to $40 an ounce. So if you invested$10,000 in gold in June 2001 its value today would be $50,000, but if you invested $10,000 in silver on the same date you would now have around $80,000.

Now may be the time to start thinking of silver as the new gold.As a matter of fact, there are several pieces of evidence that silver could soon replace gold as the precious metal of choice for some investors. An example of that is some analysts project that the price of silver will rise to $90 per ounce by the end of 2021, while the price of gold remains at $1,500 over the same time frame.

Silver rises for many of the same reasons as gold.One of the biggest common factors is the state of the economy today. Economic uncertainty can be observed at any given time, and when there is a high risk of inflation, precious metals become more desirable due to a recognized safety and reputation.

One of the biggest advantages of silver is it’s not widely considered a main source of value like gold is. Silver also has many uses in industry, medicine, and dentistry, thanks to its usefulness, unique properties such as a good electrical and thermal conductors and usefulness in making metal alloys.

Silver can be very useful to mankind.There are many reasons why you should invest in silver too. One reason is silver is cheap, its industrial use is growing, world demand is growing and in the gold and silver ratio silver is more favorable.

Silver is cheap

You could buy a hard asset of silver at roughly the price of 1/70th the price of gold, much more affordable and easier to acquire for the smaller investors. If you cannot afford to buy a full ounce of gold, silver can be a substitute to own a precious metal.

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