Silver ‘a Turbo-Charged Version of Gold’ Says Goldman Sachs

gs silver soaring

We need not yet another history lesson on how precious metals are recognized as a safe haven in times of rising inflation and overall economic turmoil.

By now, we are very well aware of what constitutes a recession and the appalling inflation numbers that follow.

For this exact reason, silver may be one of the best investment decisions that we can make in this century.

Yes, perhaps even better than its spotlight-stealing “stepbrother” gold.

Ironically, the main rationale behind this decision is still using it as a hedge against an outcome that we may not be too supportive of.

However, it has everything to do with solar energy and, more specifically, solar panels.

President Biden’s ambitious $2 trillion green energy agenda and plan to reach net-zero emissions by 2050 has Bank of America estimating silver rising around the $50 level.

Silver is the go-to material that is used in solar cells due to its cost and effectiveness as a conductor of heat and electricity.

Jeffrey Curries, Goldman Sachs’ commodities chief, stated in a recent interview that, “Silver as a key component in solar panels makes it a better investment than gold for investors who are interested in the metals market.”

“I like to say that it’s a turbocharged version of gold.”

Aside from the green new deal “movement” occurring in America, pressure placed on governments worldwide to adopt green-friendly policies has been building, especially in 2020, thanks to the pandemic.

“You get that added boost that a lot of that spending … is going to be green [capital expenditures]. That green capex goes into solar panels, and then silver is the biggest benefactor.” Currie explained.

Last year, silver surged 51% as investors flocked to the precious metal as an alternative store of value during the COVID-19 pandemic.

Bank of America strategists believe an increase in industrial applications of silver, however, would catapult prices even higher.

This is truly a silver lining, and additional support on top of the many other reasons why investing in precious metals like silver could be the best move to make to protect your wealth.

With a president planning to spend trillions and raise our national debt, you have to ask yourself…

Are you feeling confident about your wealth?

The US dollar is losing its value by the second, and so is your savings.

Learn how American Hartford Gold can help by calling 800-462-0071.

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