If you think that gold is a better investment than silver, think again. Silver is a tangible asset that you really ought to consider including in a retirement savings portfolio. Since the dawn of time, silver has been used as a form of currency and it was even mentioned in the Holy Bible! The perfect tool for wealth-building, this precious metal does not disappoint, due to the fact silver prices don’t dip low that often. In fact, if you pay attention to the spot silver price, it increases significantly more than gold does in a Bull Market. The reasons to invest in silver are manifold, from the fact that silver is a liquid investment to the fact it has held onto its value well throughout history. Its electric conductivity and malleability make this precious metal asset versatile for use in various industries, so you can expect investors to jump at the chance to acquire your silver for the best silver prices.
Factors that Sway the Silver Prices
The easiest way to monitor the silver prices in today’s fast-paced precious metals market is to regularly check the live price charts. Buying and selling demand is a huge factor for price changes, as is the economic climate. When governments change their policies relating to export and import destinations for precious metals, the silver prices will also change. China is a major investor in silver and so, the country’s investment activity has a direct effect on silver prices. Other fundamental factors include high crude oil prices and unsteady industrial demand.
Which investments have the best silver prices?
Ideally, you should maintain a good balance between silver coins and silver bars. By doing so, the chances of attracting more attention from investors will increase, due to the fact a mixture of investments will enhance portfolio diversity. To succeed in your quest to achieve portfolio diversification, aim to acquire the proof or bullion version of coins. If you are interested in numismatic coins, opt for Silver Eagles. North American coins have the most money-making potential for long-term investing. Silver bars have low premiums and most are investment-grade, so keep an eye out for commonly-traded bars branded by respected names, like Royal Canadian Mint (RCM) and Johnson Matthey.
Should you have any questions about silver prices and how they ought to affect your investment decisions, contact GoldCo’s financial experts.