Are Silver Prices Poised To Rise This Year?
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Investors have relied on silver and other precious metals as their go-to assets for years. Be it bullions, bars, or coins, silver has attracted investments from various different channels all over the world.
As modern economies continue to experience turbulent periods, investor’s interests are skewed away from volatile assets such as estate and equities. Stocks and bonds are no longer the only or primary forms of investment. Precious metals, and especially silver, are taking the lead in the financial arena.
Despite the financial security that investing in silver offers, individuals are concerned about the price trends of this metal. It’s wise to assess the performance of this asset in the past and coming years before placing your trust and savings in it.
Here’s a quick performance review of silver that’ll help you decide if investing in silver is the right decision.
All You Need To Know About the Silver Price Trends
If you have any experience with gold investment, you can quickly catch up to the fluctuations in silver prices. Both metals experience similar patterns of behavior in the investment market. It’s during times of economic turmoil and political unrest that prices of low-grade metals drop. These include metals such as copper and zinc.
However, the market value of silver creeps up on the graph as more and more investors wish to hedge the financial risks. Since both silver and gold prices vary in tandem, you can easily predict the trends in the silver market if you know the pattern that gold prices are following.
An added benefit for investors looking at silver options is incremental volatility: the value of this metal may rise more than normal but this news rarely makes headlines.
From 1970 to 2019: Analysis of Silver Prices
Silver was traded as a base commodity for many years, then as a currency, and then as an investment asset. The ups and downs in silver prices mark some of the major political events in history.
It was on January 18th, 1980, that silver hit the highest premium rate of $49.45 per ounce. But we saw a reversal of the bullish trend soon afterward.
After the financial crisis of 2008 had passed, things started looking up again for silver. People were reverting to their old ways of seeking financial security in silver investments. This pushed the market demand and market price of the metal up further.
Following that, the prices of silver dipped in 2018 but quickly bounced back in 2019.
Future of Silver
Bullish positions by future investors are already reflecting an 80-percent increase. Investors are excitedly looking forward to times when the performance of silver will shine again.
This is a direct call to retirees, investors and savers to invest their wealth in silver. It’s best to look at gold price drivers if you want to predict the trends for silver prices in the future.
Needless to say, once the world recovers from the coronavirus pandemic, the financial market will receive a gush of investors clinging onto silver investment.
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