All eyes are on gold when it comes to investing in precious metals. What we all forget is that there is a precious metal that we all can afford and get profits out of, if we understood it well. And that precious metal is the pretty looking white metal, is silver. Certainly, the market for silver is a bit shaky here and there, but that’s just what makes it the thing of interest for those who know how to use this bulls and bears.:
1. Silver is very important across industries
Silver is used in automotive parts, satellites, solar panels, batteries, dental appliances, and a lot of other industries. Also, silver cannot be reused as much as gold, making the demand for new silver higher than that of gold.
2. Silver has an intrinsic value, just like gold.
Whenever the metal has an intrinsic value, it automatically moves a step higher in value over the usual currency, especially in times of financial crisis when paper currency takes a dip.
3. You can buy 75 ounces of silver for the price of 1 ounce of gold.
It may not be financially relevant to some, but having more tangible precious metal gives the investor some level of mental benefit, making investment comfortable.
4. Silver has a smaller market than that of gold.
What difference does it make, you ask? It moves more intensely than gold, which can help you grow your portfolio quickly in the wilder ups and downs. All you need to do is not freak out with the frequent dips in price.
5. In a bull market, the price of silver increase more frantically than that of gold.
For instance, during the 1970s bull market, gold rose by 2500%, while silver rose by a whopping 3800%!
6. Silver is affordable for almost everyone.
So, it basically gives the small investors an achievability of purchase, and the ability to make profits out of smaller amounts of investment.
We have showed you the way, now all you need to do is to start small, stay steady, and follow the way. Want us to make it a bit easier for you? Install Augmont app for Android and iOS and get the latest gold & silver price updates, buy & sell, or invest in SIPs, just with the tap of your finger.