-
Will Silver Spot Price Double in 2024
-
Is Gold or Silver a good investment? and How to invest in Gold or Silver?
-
There are several options for purchasing gold and silver precious metals:
Bullion Dealers or Coin Shops: Local coin shops and bullion dealers specializing in buying/selling precious metals: They sell gold and silver coins, bars, rounds in various weights. You can buy in-person and inspect the products before purchasing
- Online Precious Metals Dealers: Well-known online dealers like APMEX, JM Bullion, SD Bullion. Order coins, bars, rounds and have them shipped securely. Generally have lower premiums over spot prices than local dealers
- Banks/Brokerage Firms: Some large banks and brokerage firms offer precious metals investing. You can buy gold/silver through them or approved dealers. May have access to pooled accounts or metal-backed trusts/ETFs.
- Pawn Shops: Local pawn shops sometimes sell gold/silver they have bought. Merchandise can vary and you have to inspect quality carefully. May get better deals but higher risk compared to dealers.
- Mints: Sovereign and private mints like the U.S., Royal Canadian, Perth mints. They produce bullion coins which can be purchased directly or through dealers. No matter where you buy from, be sure they are a reputable source. Look at buy or sell spreads and premiums over spot price. Expect to pay a higher premium for smaller quantity purchases. Having a secure storage plan for physical metals is also important.
https://www.youtube.com/watch?v=ZyHMAwXSc_E&ab_channel=NiftyInvest
-
-
Great question, Marga. Investing in gold or silver can be a good way to diversify your portfolio and hedge against economic uncertainties. Both metals have their advantages and potential drawbacks, so it’s important to understand these before making an investment.
Is Gold or Silver a Good Investment?Gold:
- Store of Value: Gold is often seen as a safe haven during economic downturns, inflation, and geopolitical instability. It has been used as a store of value for thousands of years.
- Inflation Hedge: Historically, gold has maintained its value over the long term and is considered a hedge against inflation.
- Liquidity: Gold is highly liquid and can be easily bought and sold.
Silver:
- Industrial Demand: Silver has many industrial applications, including in electronics, solar panels, and medical devices. This industrial demand can drive its price.
- Volatility: Silver is more volatile than gold, which can mean higher potential returns but also higher risk.
- Affordability: Silver is generally more affordable than gold, making it accessible to a wider range of investors.
How to Invest in Gold or Silver:Physical Metals:
- Bullion Bars and Coins:
- Gold: Gold bars and coins are available from mints and dealers. Popular coins include the American Gold Eagle, Canadian Maple Leaf, and South African Krugerrand.
- Silver: Silver bars and coins are also widely available. Popular silver coins include the American Silver Eagle, Canadian Maple Leaf, and Austrian Philharmonic.
- Storage: Consider secure storage options, such as a safe deposit box or a professional storage service, to protect your physical investments.
ETFs (Exchange-Traded Funds):
- Gold ETFs: These funds invest in physical gold and aim to track the price of gold. Examples include SPDR Gold Shares (GLD) and iShares Gold Trust (IAU).
- Silver ETFs: These funds invest in physical silver. Examples include iShares Silver Trust (SLV) and Aberdeen Standard Physical Silver Shares ETF (SIVR).
Mining Stocks:
- Gold Mining Companies: Investing in stocks of gold mining companies can offer exposure to gold prices. Companies like Barrick Gold (GOLD) and Newmont Corporation (NEM) are major players in this space.
- Silver Mining Companies: Similar to gold, investing in silver mining stocks can offer exposure to silver prices. Companies like First Majestic Silver (AG) and Wheaton Precious Metals (WPM) are well-known in this sector.
Mutual Funds and Index Funds:
- Gold Funds: Mutual funds or index funds that focus on gold mining companies or the gold industry can provide diversified exposure.
- Silver Funds: Similar funds are available for silver, focusing on companies involved in silver mining and production.
Futures and Options:
- Gold Futures: These contracts allow you to buy or sell gold at a future date at a predetermined price. They are traded on exchanges like COMEX.
- Silver Futures: Similarly, silver futures contracts are available for trading.
Considerations:
- Risk and Volatility: Both gold and silver can be volatile. Silver tends to be more volatile than gold.
- Economic Conditions: The performance of these metals can be influenced by economic conditions, interest rates, and geopolitical events.
- Investment Goals: Consider your investment goals and risk tolerance. Gold might be more suitable for risk-averse investors, while silver might appeal to those seeking higher returns despite higher volatility.
-
Is Gold or Silver a Good Investment? Gold as an Investment
Advantages:
- Store of Value: Gold has been used as a store of value for thousands of years and tends to hold its value during economic downturns.
- Hedge Against Inflation: Gold is often seen as a hedge against inflation. As the cost of living increases, the price of gold usually rises as well.
- Diversification: Adding gold to an investment portfolio can diversify your assets, reducing risk.
- Liquidity: Gold is highly liquid. It can be bought and sold with ease.
Disadvantages:
- No Yield: Gold doesn’t generate income like dividends or interest.
- Storage and Insurance: Physical gold requires secure storage and insurance, which can be costly.
- Market Volatility: The price of gold can be volatile, especially in the short term.
Silver as an Investment
Advantages:
- Industrial Demand: Silver has numerous industrial applications, including in electronics, solar panels, and medical devices, which can drive demand.
- Affordability: Silver is generally more affordable than gold, making it accessible to a broader range of investors.
- Store of Value: Like gold, silver can act as a hedge against inflation and currency devaluation.
Disadvantages:
- Volatility: Silver prices are typically more volatile than gold prices.
- Storage: Physical silver takes up more space than gold and also requires secure storage.
- Market Sensitivity: The price of silver can be influenced by fluctuations in industrial demand.
How to Invest in Gold or Silver
-
Physical Bullion:
- Coins: Gold and silver coins are popular among investors. Examples include the American Gold Eagle and the Canadian Silver Maple Leaf.
- Bars: Investors can purchase gold and silver bars in various weights.
- Storage: Physical bullion requires secure storage, either at home in a safe or in a professional storage facility.
-
Exchange-Traded Funds (ETFs):
- Gold ETFs: Examples include SPDR Gold Shares (GLD) and iShares Gold Trust (IAU).
- Silver ETFs: Examples include iShares Silver Trust (SLV) and Aberdeen Standard Physical Silver Shares ETF (SIVR).
- Benefits: ETFs offer exposure to the price of gold or silver without the need for physical storage.
-
Mining Stocks:
- Gold Mining Companies: Investing in companies that mine gold, such as Barrick Gold Corporation (GOLD) or Newmont Corporation (NEM).
- Silver Mining Companies: Investing in companies that mine silver, such as First Majestic Silver Corp (AG) or Pan American Silver Corp (PAAS).
- Risk and Reward: Mining stocks can offer higher returns but come with additional risks related to the operational performance of the companies.
-
Futures and Options:
- Gold Futures: Contracts to buy or sell gold at a future date at an agreed-upon price.
- Silver Futures: Similar contracts for silver.
- Complexity: Futures and options are more complex and are generally suited for experienced investors.
-
Precious Metals IRAs:
- Gold IRA: A self-directed IRA that holds physical gold or other approved precious metals.
- Silver IRA: A self-directed IRA that holds physical silver.
- Tax Benefits: These accounts offer tax advantages similar to traditional IRAs.
-
This reply was modified 6 months ago by Bentley.
-
Buy silver. Both Gold and Silver are great investments but Silver will go up faster than Gold. You should see Silver at $1500.00 plus per ounce.
-
Thank you.. This is really good.. Very informative. Where to start tho?
-
Do NOT BUY paper silver. Buy physical silver. I have several places where you can buy them. Pawn shops, and online. They will ship the physical silver for you. I will buy the silver for you if you like and when you visit the U.S. we can meet or I can overnight it to you. Silver rounds, silver bars, or half dollars. I bought a lot of silver three years ago.
-
investors
Investing in gold and silver can be a great way to diversify your portfolio and protect against economic uncertainty. Here are steps for first-time novice investors:
1. Understand the Types of InvestmentsPhysical Bullion:
- Gold and Silver Coins: Popular options include American Gold Eagles, Canadian Gold Maple Leafs, American Silver Eagles, and Canadian Silver Maple Leafs.
- Gold and Silver Bars: Available in various weights, such as 1 oz, 10 oz, and 100 oz.
Paper Investments:
- Exchange-Traded Funds (ETFs): ETFs like SPDR Gold Shares (GLD) and iShares Silver Trust (SLV) track the price of gold and silver without needing to store physical metals.
- Mining Stocks: Investing in companies that mine gold and silver, such as Barrick Gold Corporation (GOLD) or First Majestic Silver Corp (AG).
- Mutual Funds: Funds that invest in a diversified portfolio of mining companies and precious metals.
2. Determine Your Investment Goals
- Short-Term vs. Long-Term: Decide if you are looking for short-term gains or long-term wealth preservation.
- Percentage of Portfolio: Determine what percentage of your investment portfolio you want to allocate to precious metals.
3. Research and Education
- Market Trends: Follow gold and silver prices and understand factors that influence their value, such as inflation, geopolitical events, and currency fluctuations.
- Investment Resources: Utilize resources like Investopedia and The Balance for articles and tutorials on precious metals investing.
4. Choose a Reputable Dealer
- Reputable Dealers: Look for dealers with good reviews and ratings from sources like the Better Business Bureau (BBB) and industry associations.
- Transparent Pricing: Ensure the dealer provides transparent pricing, including premiums over the spot price.
5. Make the Purchase
- Physical Purchase: If buying bullion, ensure you receive a certificate of authenticity. Consider online dealers like APMEX or JM Bullion.
- Storage Solutions: Decide whether to store the metals at home in a safe or use a third-party storage facility like a bank or specialized depository.
- Paper Investments: If opting for ETFs or mutual funds, you can purchase these through brokerage accounts like Vanguard, Fidelity, or Charles Schwab.
6. Monitor and Review
- Regular Review: Keep track of your investment’s performance and the broader market conditions.
- Adjust Portfolio: Be ready to adjust your portfolio based on performance and any changes in your financial goals or market outlook.
7. Stay Informed
- Financial News: Regularly read financial news from reputable sources like Bloomberg, Reuters, and CNBC to stay informed about market conditions and trends.
- Educational Materials: Use books, podcasts, and seminars to continually educate yourself about precious metals investing.
By following these steps, you can make informed decisions and start your journey into investing in gold and silver.
-
-
Investing in physical silver involves several steps to ensure you purchase quality silver at a fair price and store it securely. Here are the key steps to buy physical silver for investment:
1. Determine Your Investment Goals
- Purpose: Decide why you are investing in silver. Are you looking for a hedge against inflation, portfolio diversification, or long-term wealth preservation?
- Amount: Determine how much you are willing to invest in silver. This should be a portion of your overall investment portfolio.
2. Choose the Type of Silver
- Bullion Coins: Popular silver coins include the American Silver Eagle, Canadian Silver Maple Leaf, and Austrian Silver Philharmonic.
- Bullion Bars: Available in various sizes (e.g., 1 oz, 10 oz, 100 oz), bars are often cheaper per ounce compared to coins.
- Junk Silver: Pre-1965 U.S. coins (dimes, quarters, half-dollars) that contain 90% silver.
3. Research Dealers
- Reputable Dealers: Choose established and reputable dealers. Look for customer reviews, Better Business Bureau ratings, and industry affiliations.
- Pricing Transparency: Ensure the dealer provides transparent pricing, including premiums over the spot price of silver.
4. Check Current Silver Prices
- Spot Price: Monitor the current spot price of silver. This is the market price for immediate delivery and serves as a benchmark for pricing.
- Premiums: Understand that dealers will charge a premium over the spot price. This premium covers manufacturing, distribution, and dealer margins.
5. Make the Purchase
- Online vs. In-Person: Decide whether to buy online or from a physical store. Online purchases may offer more convenience and sometimes better prices.
- Payment Methods: Be aware of the payment methods accepted by the dealer (e.g., bank transfer, credit card, PayPal). Note that some methods may incur additional fees.
- Order Confirmation: After placing an order, ensure you receive a confirmation with details of the purchase, including item description, quantity, and price.
6. Secure Storage
- Home Storage: If storing at home, use a secure safe that is fireproof and waterproof. Consider home insurance coverage for your silver.
- Bank Safe Deposit Box: For higher security, use a bank’s safe deposit box. This adds an extra layer of protection against theft and natural disasters.
- Private Vaults: Consider private storage facilities that offer secure storage specifically for precious metals.
7. Documentation and Records
- Receipts: Keep all purchase receipts and certificates of authenticity.
- Inventory List: Maintain an up-to-date inventory list of your silver holdings, including purchase dates and prices.
8. Regularly Review Your Investment
- Market Trends: Keep an eye on silver market trends and economic indicators that might affect silver prices.
- Portfolio Rebalancing: Periodically review your overall investment portfolio and adjust your silver holdings as needed to meet your investment goals.
Additional Tips
- Beware of Scams: Be cautious of offers that seem too good to be true. Only buy from trusted sources.
- Understanding Taxes: Be aware of any potential tax implications associated with buying and selling physical silver in your jurisdiction.
By following these steps, you can make informed decisions when investing in physical silver and ensure your investment is secure and well-managed.
-
Investing in precious metals like silver and gold can be a smart move for diversifying your investment portfolio. Here’s a beginner’s guide to investing in silver or gold coins:
-
Educate Yourself: Before you start investing, take the time to learn about the precious metals market. Understand the factors that affect their prices, such as supply and demand, geopolitical events, and economic indicators.
-
Decide on Silver or Gold: Determine whether you want to invest in silver or gold coins. Silver tends to be more affordable and volatile, while gold is often seen as a store of value and tends to be more stable.
-
Research: Research different types of silver or gold coins available in the market. Some popular options include American Eagle, Canadian Maple Leaf, and South African Krugerrand coins.
-
Find a Reputable Dealer: Look for a reputable dealer to purchase your coins from. Make sure they have a good track record and are authorized by relevant authorities. You can find dealers online or visit local coin shops.
-
Understand Premiums: When buying coins, you’ll typically pay a premium above the spot price of the metal. This premium covers the cost of production, distribution, and dealer markup. Compare premiums from different dealers to get the best deal.
-
Consider Storage: Decide whether you want to store your coins yourself or use a third-party storage service. If you choose to store them yourself, make sure you have a secure place to keep them, such as a safe or a safety deposit box.
-
Start Small: As a beginner, consider starting with a small investment and gradually increasing your holdings as you become more comfortable with the market.
-
Monitor the Market: Keep an eye on the price of silver or gold regularly to stay informed about market trends. This will help you make informed decisions about buying or selling your coins.
-
Diversify: Don’t put all your investment capital into precious metals. Diversify your portfolio across different asset classes to reduce risk.
-
Be Patient: Investing in precious metals can be a long-term strategy. Prices can be volatile in the short term, so be patient and focus on the long-term potential of your investment.
Remember, investing always carries risks, so make sure to do your own research and consult with a financial advisor if needed before making any investment decisions.
-
-
Silver has shot up to $32 dollars per ounce from $22 per ounce in a period of 4 weeks. That’s a huge appreciation in such a short period of time. I agree silver price will double in 2024. Maybe go higher. Silver investors are not normally traders. Investors of silver and Gold are stackers which mean they buy and hold for the long term. I just don’t see volatility in silver like many are saying that silver price will see fluctuations.
-
Great news 👏 👍 After silver price broke 💔 $32.55 per ounce a week from last Friday, silver price retracted to as low as $30.00 and change. Silver price per ounce just surpassed the $32.00 per ounce this afternoon. Looks like the correction has been made. Looks like silver price will now keep going up.
-
Silver price broke $32.00 per ounce today. This is a key factor for silver breaking out after a huge correction one week ago last Friday. Many people don’t realize how important silver making this comeback after last week’s correction. Silver is expected outpace in return in ROI.
-