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Silver and Gold Prices: Predicting the Future

Everything You Need To Know About ‘Gold Futures’

The following article is created and or curated by the Orion Metal Exchange for the benefit of our followers.  We seek to provide relevant precious metals, economic and geopolitical content that can impact your retirement and savings. If you are interested in learning about precious metals investing, call 1-800-559-0088, for a FREE investor kit.

Investing in precious metals is a safe way to grow your wealth. If you’re thinking of investing in precious metals, you’ll have to decide whether you want to purchase gold or silver.

The values of gold and silver are constantly fluctuating which makes it difficult to determine which metal you should invest in:

Let’s take a closer look at the prices of silver and gold over the years and how they will change in the future.

Commercial, Industrial and Consumer Demand of Silver

Silver has lots of traditional uses. Back in the day, silver was a core component of the films used in still cameras. Since still cameras have been replaced with digital cameras, the usage of silver has dipped.

Over the last 15 years, silver has been used in the development of cell phones and other technological devices.

Silver is also used in medical supplies, wood preservatives, food hygiene and water purification appliances for its antibacterial properties.

Consumer Demand of Gold

Gold doesn’t have much industrial use. Gold is primarily used for jewelry. In India, two-thirds of the demand for gold comes can be attributed to consumer’s desire for gold jewelry. Around 12% of India’s demand for gold can be accounted to dental and medical applications.

Even though many developing countries like India have such a high demand for gold, industry experts wonder at what price the demand for gold will peak. At what price will gold become too expensive to purchase and how will the dip in demand affect its price.

Silver has an edge over gold in terms of demand. Because it is commonly used in solar technology and consumer electronics, its demand will remain steady. Compared to gold, silver is reasonably priced.

Although the price of silver has increased just as much as gold in terms of percentage points, it’s much more affordable than gold. Silver is priced at just a little over $30 per ounce.  

Central Banks, Financial Stress and the Price of Precious Metals

Gold is looked at as the store of value. From history, we know that too much investment dominated by a single currency is a huge risk. As the price of gold has increased in the last decade, the price of the US dollar has decreased.

The value of the US dollar dropped because the government had to pump money into the economy and because countries like China are worried that they may have invested excessively in assets dominated by the dollar.

To fix the problem, countries buy lots of gold, this way they swap the risks associated with the US dollar with gold, which happens to be a lot more stable.

Other than gold and silver, the demand for platinum and palladium has also increased after the last financial crisis. White gold continues to be the metal of choice for investors but still popular for being affordable.

As investing in silver has become easier, more people are purchasing it today than in the past.

Want to invest in gold or silver?

Orion Metal Exchange is a trusted online precious metals dealer. Open IRA accounts with us and buy and sell metals as you please. Contact us today for more information. Feel free to call us at 1-800-559-0088 and we’ll answer any questions you may have

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