So what is a better investment gold or silver? Many people might say gold but to tell you the truth silver can rise ten times higher as compared to gold. Many analysts are of the opinion that silver prices can rise as high as $400/oz in the next few months. First, let's discuss some historical performance of gold vs silver. Between 1970 and 1980, gold prices increased from the Bretton Woods fixed price of $35 per ounce to an unprecedented $850/oz. This was an increase of 2,329% in ten years. Now, during the same period starting from 1970 and ending at 1980, silver prices jumped from a mere $1.50/oz to almost over $50/oz. This was an increase of 3,233% over a period of ten years. So, just compare buying a few ounces of gold as compared to silver and their returns over a period of just ten years. Now, industrial applications of silver are much wider as compared to gold. As the global economy comes out of the recession finally in this year and starts to expand again, you will see a huge rise in the demand of silver. This increase in demand for silver will be caused by the increased demand for consumer products by the consumers all over the world. The industries producing that products will drive the price of silver skyhigh. Silver and copper are the best conductors of electricity. Jsut take a look around your house. You will be surprise to know that there's silver in every TV, washing machine, wall switch and refrigerator. Conductors, switches, contracts and fuses use silver because it does not corrode or cause overheating and fires. Silver is used extensively in photography. This use might decrease as digital photography replaces traditional photography. But this will be replaced by new uses of silver in other industries. Your computer monitor uses silver. Your cell phone uses silver. Satellites, High Tech Robots, Lasers and other high tech gadgets use silver. A new double layer of silver on glass is sweeping the window market, as it reflects away almost 95% of the hot rays of the sun. A new electronic application for "smart tags" that are replacing bar codes could use significant quantities of silver. Silver achieves the most brilliant polish of any metal and is the best reflector of light, allowing it to be used in mirrors and in coatings for glass, cellophane or metals. Chemical reactions can be significantly increased by adding silver. Approximately 700 tons of silver are in continuous use in the world's chemical industry for the production of plastics. Batteries use silver. Silver is used in soldering, pharmaceuticals, catheters and many other areas. So, you can well imagine as the global economy starts to expand again and the demand for these products and services increase, you will see a skyrocketing of silver prices.
Please Rate this Article 5 out of 54 out of 53 out of 52 out of 51 out of 5
Not yet Rated
