In the current financial environment where the traditional areas of investment such as property and stock markets have faltered or crashed over the past couple of years, many of us seem content to play it safe by keeping any savings that we may have tucked up in banks, earning little or no interest.
It is fair to say that plenty have had their fingers burned by the financial crisis through no fault of their own and cannot afford to take the risk of investment under current circumstances.
There are some areas of investment however that have profitted from the financial crisis, precious metals like gold for instance have rocketed in price, leading to a 21st century gold rush where every high street now appears to have a gold ‘expert’ ready to pay cash for your gold jewellery.
Inevitably the ‘gold rush‘ has brought out the worst in some unscrupulous people who are treating the business as they would any other scam that is fashionable at the time, and using outlets to rip off their clients.
But as an investment, if gold is doing well, how about other precious metals such as golds poorer cousin silver?
On the face of it, silver should make a good investment. Demand for silver has outstripped supply every year since 1990 and in the last two years supply has fallen significantly short.
Demand for silver in industry continues to grow, a staggering 44% of all silver produced each year is used in the technologies market alone, a huge growth market itself. But it does not stop there, silver is used in the production of many household goods and is essential to industries worldwide.
In the US the government is currently buying silver futures to replenish an empty stockpile of the commodity and many investors are seeing it as a safe bet, as industrial uses for the product grow along with the scarcity of silver.
0 comments so far
There are no comments for this post yet. Why not be the first by filling out the form below.