Buying silver is anytime more preferable compared to other metals such as gold and platinum due to its relative cheapness which allows you to buy more of the metal.
Moreover, while inflation will depreciate the value of paper currencies, it will escalate the value of hard currencies such as silver. The present economic crisis is presenting a story of devaluation of currencies which holds true for U.S. dollar as well. The value of dollar today in terms of purchasing power, may not be the same in the near future.
First time investors are always baffled by questions like when they should buy, how much they should hold silver for, etc. Think it this way. Since 1913, Americans have lost 95% of their purchasing power with vast bulk of the loss happening in the last 40 years. Decide what would you like to hold in future? An ounce of silver or dollars that would purchase an ounce of silver in the present moment. If the above answer is an ounce of silver for an extended time horizon, the first thing to do is buy silver. Such type of analysis will help you think more clearly, since everyday volatility of silver could reflect in your decisions.
On other hand, there is gold, an all time investor favorite. But silver enjoys a favorable price to supply ratio compared to gold. Also, silver is an necessary commodity approved for various electronic goods, medical applications and solar power production. As long as the industrial demand of silver is on the high, silver prices will always be bullish in the long term.
Image Credit: USGS
Buying silver is anytime more preferable compared to other metals such as gold and platinum due to its relative cheapness which allows you to buy more of the metal.
Moreover, while inflation will depreciate the value of paper currencies, it will escalate the value of hard currencies such as silver. The present economic crisis is presenting a story of devaluation of currencies which holds true for U.S. dollar as well. The value of dollar today in terms of purchasing power, may not be the same in the near future.
First time investors are always baffled by questions like when they should buy, how much they should hold silver for, etc. Think it this way. Since 1913, Americans have lost 95% of their purchasing power with vast bulk of the loss happening in the last 40 years. Decide what would you like to hold in future? An ounce of silver or dollars that would purchase an ounce of silver in the present moment. If the above answer is an ounce of silver for an extended time horizon, the first thing to do is buy silver. Such type of analysis will help you think more clearly keeping in mind everyday volatility of silver.
Other other hand, there is gold, an all time investor favorite. But silver enjoys a favorable price to supply ratio compared to gold. Also, silver is everyday needed commodity approved for various electronic goods, medical applications and solar power production. As long as the industrial demand of silver is on the high, silver price will always be bullish in the long term.