Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold.
Insufficient supplies of silver — as well as its tendency to be a better performer than gold in periods of high inflation — are the reasons. Silver is a material commonly used in the manufacturing of automobiles, solar panels, jewellery and electronics.
Spot silver prices notched a record high of $49.45 in 1980 against the backdrop of a 13.5% inflation rate, up from around $4 in 1976, when the rate of inflation was cooler at 5.7%.
Precious metals can also be considered as a currency, against the USD when the faith and trust in the fiat currency is diminishing.
The real danger will be with the continuous rise in interest rates and yet the dollar starts weakening, just like the pound. The dollar is trading lower in the past weeks, I am keeping watch on this closely. However, it is not all bad news, we can invest differently…
$Australian Dollar - main 2303(AUDmain)$ $Silver - main 2303(SImain)$
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