Mark my words: Silver is going over $20 per ounce! Here’s why…
- Silver does great when people get worried about the market, inflation, and geopolitical risk. Monetary inflation is here – and it is only a matter of time before price and asset inflation arrive as well. Silver is a hard asset that holds its value in inflationary times and will maintain its purchasing power.
- Silver is an industrial metal, which means its price rises when global manufacturing activity picks up. Therefore, it should do quite well when we finally emerge from this economic crisis.
- Silver is in short supply, and the limited aboveground stockpiles are being depleted. With demand exceeding supply, prices for silver should continue to move higher.
- Finally, silver is in a technical uptrend.
Currently, silver is trading around $15 per ounce, already up 40 percent for the year. To take advantage of what is almost sure to be a continuing rise in price, you can buy silver bars or silver coins (e.g., American Silver Eagle bullion coins or Canadian Silver Maple Leaf coins). Physical silver can be stored in a home safe or in a secure hidden location that only you and another trusted person know about.
Another good way to invest in silver is with the silver exchange-traded fund (SLV). This ETF is very liquid and cost-effective.
Whether you choose to invest in bars, coins, or the SLV exchange-traded fund… make sure you own some silver.