Gold purchases jumped by an unbelievable 2000% between November 2019 and November 2020. The tumult of the pandemic had lots of people looking for somewhere safe to keep their cash. There’s no better place than precious metals.
And hey, they look really pretty, too.
But when it comes to investing in precious metals, which is best? Are you better off investing in gold or investing in silver? Which is the better store of value?
Well, wonder no longer. We’re here to answer any gold vs silver queries you have, and then some. Let’s go!
Gold: Steady as She Goes
One of the key advantages that gold has other most other investments is stability. Investing in gold tends to give people a buffer against harsh economic times. It’s distinctly not volatile, meaning you might not make much profit on it, but you won’t take much of a loss either.
That can be a lifesaver in times of economic chaos. If for whatever reason, the currency you do most of your business intakes an epic tumble, you’ll be really glad you made that choice to invest in gold.
Of course, that could be a problem for some. If you’re looking to make a serious bank off your investments, gold might not be for you. It’s all about matching your needs to the properties of the metals you’re purchasing.
Silver: Affordability and Profitability
On the other hand, silver is a lot more wired into the vicissitudes of the global economy. If the world takes a tumble, silver will too. On the other hand, there’s no better friend in a bull market. The potential returns from a savvy silver investment far outweigh gold.
Of course, the opposite is true too. Where gold can save your bacon in a crisis, investing in silver might cause you some pretty big losses if chaos strikes.
In that way, silver and gold serve very different needs. Gold is more of a store of value; something you buy because you want to keep your money safe from fickle fate. Silver is a lot more like a traditional investment. No one buys shares in a start-up because they think it’s safer than a bank, they do it because they’re willing to risk a loss if there’s potential for a reward.
Silver is the same way. The question you have to ask yourself is, do I feel lucky?
Gold vs Silver: Which One Meets Your Needs?
So there you have it, a quick but thorough guide to the main differences between gold vs silver. Whether you need somewhere safe to store your money, or you’re looking to roll the dice and make a fortune, at least one of these shiny metals has something to offer you.
And if you buy the wrong one? Well, you could always make some really killer jewelry.
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