Outlook For Gold and Silver

What is the Outlook for Gold and Silver?

In a time of economic crisis, such as what we are in now, the only true way to protect your portfolio is through silver and gold bullion. Not only does it keep increasing in value, but it is protection for your portfolio against the fall of other investments, as well as the decline of the dollar. While governments can print more money, there is a limited amount of silver and gold. With so many different uses of silver and the intrinsic value of gold, these two precious metals are the best bet for your money.

In 2000, the price of silver wavered around $5.25 an ounce, while the price of gold was anywhere from $264 – $313 an ounce. A mere five years later, silver began the year around $6.45, and climbed by the end of the year to just under $9.00 and ounce. At the same time, gold had started the year at $228 and ended the year at $519. During 2008 silver began the year at $14.93 and ended at $10.79, while gold began the year at $846.75 and ended at $869.75. The current year has shown an even greater rise in price, as gold has peaked at $1,261 and silver has peaked at $19.37. While there are always fluctuations in price, the continual rise in value is certain.

The good news with the current economic situation is that prices are more than likely to keep climbing. Silver is considered by many as the essential metal, as it is used for so many things. Its numerous uses include: x-ray films, digital imaging used for photography, telescopes, conductors, circuit boards, and even jewelry to name only a few. With countries that have a large population of an up and coming middle class, such as China and India, the rate of silver being consumed is expected to rise dramatically.

For centuries, gold has held a place in the human psyche. From rulers of the ancient world, to kings and queens of today, no one has placed more value in any object. Though it is mostly used for jewelry, gold is both malleable and durable and used for a variety of things, such as conductors in all types of electronics and computers, dental fillings, circuitry in aerospace vehicles and even in awards such as Olympic gold medals and Oscar awards.

With consumable uses of both silver and gold, as well as the hold it has in our history, now is the time to own both. Many people in the investment arena believe the bullish trend of gold and silver has only begun. While forecasters may vary in the degree, most believe gold and silver will increase, and that the climb is not over.

Source by David Treloar

Outlook For Gold and Silver