An excellent form of wealth is precious metals. Hence, it is no wonder people aware of global instability set their eyes on investing in gold or silver.
Unlike cash or mining stocks, silver bullion is physical wealth. As a result, silver does not fall below a specific value relative to the goods and services in that economy and as a result remains safe in that respect.
Maybe you are thinking you want to buy silver and think if it is the right move. The answer is yes. Investing in any precious metal is a smart move especially in these volatile times.
Silver Remains an Affordable Investment
The general rule with precious metals is to buy low and sell high. So, while the silver market remained somewhat flat over the past two years, with the closing price in 2019 around $25 AUD. However, the silver market has reached an upward trend and now selling for $33 AUD and still remains an affordable investment compared to gold.
For example, an ounce of gold can cost you AUD 2,627 Hence, the price of gold is so much more compared to the same one-ounce price for silver (AUD 33.625). Even if the silver price per ounce underperformed in 2021, several industry experts say gold may rebound this year while silver catches up after its lag.
Why Buy Silver Bullion
While silver is more affordable to buy than gold, there are many other reasons to invest in this precious metal. First, silver is an industrial metal as 50% of its demand comes from the industrial market.
In comparison, 30% comes from jewellery/bullion/silverware. The fact is that the demand for silvers is rising with the green energy front used in electric vehicles and solar panels. Furthermore, the need for silver is growing with the rollout of 5G.
The technology depends hugely on silver, and with more demand, it will rise significantly. On the other hand, The Silver Institute also forecasts a supply deficit for the silver market in 2022. With the capital expenditure in mining at a low due to the past pandemic, it should help tighten the supply of silver.
So as you can see, if you want to buy silver, now is the best time to do it. The best part is silver, like gold, provides a hedge against inflation when times are rough. In addition, you can sell it to a precious metal dealer when the price is high, or you need fast cash.
Where Can You Invest in Silver
It is clear that now is the perfect time to buy silver bullion. All that is left is for you to take the plunge. Start by figuring out how much you would like to invest and find a reputable gold buyer you can trust to help you through the process with transparent and fair pricing. Do not miss out on the opportunity as the moment is right, so visit a dealer near you that can help.