When it comes to times of economic turmoil and fighting against the rising inflation that habitually follows, gold has been the go-to asset of choice for centuries.
However, its “cousin” silver, which also performs well in these times and acts as a stable, safe haven, has always taken the back seat to gold.
In reality, silver has more features and benefits than gold. The same dollar venture may buy you a lot more silver than gold, and silver has the potential to offer more profit.
For one, it’s cost. Silver is sitting at sub $30, which is much more realistic for those with limited capital to purchase and also for those who want to physically own their investment.
Not to say that investors seeking to invest large sums of capital do not fancy silver because they do, it’s also another reason why silver can be an excellent choice compared to gold.
It appeals to many, not just one group of individuals. On a more extreme level, for those anticipating a nuclear fallout, silver is the go-to precious metal for many reasons, including its practicality for everyday exchanges.
While it may not have seemed like we were far from those conditions upon the rise of the COVID-19 pandemic, many of us more than likely shared these similar “what if?” thoughts.
Now, facing a new president in office, the question of what will happen next is on everyone’s mind.
With agreements on new stimulus packages happening, on what feels like daily, the expectations for a hike in inflation are growing with each newly printed dollar.
We’re sure you are no stranger to Biden’s ambitious green energy agenda. However, there is a silver lining to be found within that- at least for silver.
Bank of America analysts recently pointed to silver’s industrial uses, including renewable energy applications that are featured in Biden’s climate plan.
The new administration plans to make the US a 100% clean energy economy with net-zero emissions by 2050 and proposes to decarbonize the US power sector by 2035.
If this new energy deal were to be initiated, we might very well see silver soar in value.
It’s clear that silver has been the second runner-up ever since gold’s evolution but this time around, during these economic times of uncertainty, silver may be taking the stage.