Now we all know that gold prices are breaking historical barriers. But how about Silver? Silver as an investment has ten times more potential to skyrocket in the next few months as compared to gold. In this article, I will show you how silver can exceed $400/oz in the coming few months, so read on.
First, let's discuss some historical performance of gold vs silver. Between 1970 and 1980, gold prices increased from the Bretton Woods fixed price of $35 per ounce to an unprecedented $850/oz. This was an increase of 2,329% in ten years.
Now, during the same period starting from 1970 and ending at 1980, silver prices jumped from a mere $1.50/oz to almost over $50/oz. This was an increase of 3,233% over a period of ten years. So, just compare buying a few ounces of gold as compared to silver and their returns over a period of just ten years.
Now, let me explain why this unprecedented rise in silver prices might happen. You see as compared to gold, silver has far more industrial applications. As the global economy starts to expand again in this year, the demand for many industrial products will grow. Silver like gold is available only in limited quantity. So you can well imagine what happens when the demand rises but supply does not!
This increase in demand for silver will be caused by the increased demand for consumer products by the consumers all over the world. The industries producing that products will drive the price of silver skyhigh. Silver and copper are the best conductors of electricity. Jsut take a look around your house. You will be surprise to know that there's silver in every TV, washing machine, wall switch and refrigerator. Conductors, switches, contracts and fuses use silver because it does not corrode or cause overheating and fires.
Silver is used heavily in photography and in prints. With the rise of digital photography the use of silver in photography might decrease. However, new and exotic uses for silver are expanding. So you will continue to see the use of silver in a wide range of products and industries.
Your computer monitor uses silver. Your cell phone uses silver. Satellites, High Tech Robots, Lasers and other high tech gadgets use silver.
Silver is used widely in the glass and window making industry. Double Layer of silver on a glass in a window shields the house from almost 95% of sun rays during summers.
Silver is heavily used in chemical industry. Silver is a great reflector and as said before is used widely in mirrors and glass coatings.
Batteries use silver. Silver is used in soldering, pharmaceuticals, catheters and many other areas. So, you can well imagine as the global economy starts to expand again and the demand for these products and services increase, you will see a skyrocketing of silver prices.
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