Gold gets most of the attention when it comes to precious metals such as gold and silver products. While gold products are an excellent investment, silver and other precious metals should share some of the spotlight. Silver is rallying this year and makes for an excellent way to hedge your portfolio. It’s also one of the more affordable precious metals,. This makes it easier for investors to own more of it and start buying it quickly and easily.
Read on for three reasons to invest in silver products.
1. Silver products have a wide range of uses.
Silver demand is always high because it is one of the most widely used precious metals across the globe. Its elemental properties can be used in a broad variety of ways, from jewelry, electronics and telecommunications to a multitude of industrial applications. Silver is used to make everyday products such as batteries, silverware and water purifiers as well as dental fillings, needles, implants and catheters. With continuously growing demand from the solar, electronics and medical industries, producers will always be striving to catch up.
2. Silver products provide an excellent hedge.
Historically, silver prices tend to rise when inflation increases or is predicted to. For example, in January 1980, inflation was at 14 percent—the same month that silver reached its all-time high. In addition, when the stock market becomes volatile or turbulent, investors tend to seek safe harbors such as gold, silver and other precious metals to mitigate economic, systemic and political risk.
3. Silver always retains its intrinsic value.
Silver boasts unique properties such as malleability, corrosion resistance and electric conductivity. These rare characteristics make it a commodity that will maintain its value over time. In addition, silver has served as a currency for thousands of years, for an even longer period than gold has been used as a means of exchange.
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