Yahoo Finance: Why Buy Silver Now That Biden Is President
Article by Eric Gozenput in Yahoo Finance
When people think of precious metals investing, usually an image of gold bars or coins comes to mind. However, this initial idea does not begin to scratch the surface of precious metals investing. This type of thinking overlooks the fact that many buy silver.
Silver offers a cheaper alternative to gold bullion, and it serves the same purpose. Most run to precious metals during economic uncertainty to protect from inflation or crashes. However, most people run to gold first because they believe it is a better hedge. Actually, silver bullion plays the same role, and it is more affordable for most.
To start, silver bullion actually tends to outperform gold in the market. Silver is a relatively small market, so although it has comparatively more volatility than gold, this also means silver will see major increases from even just a little money moving into the market. Consequently, a silver bull market tends to increase in value greater and faster than gold. Basically, the percentages for silver versus gold show more positive growth in favor of silver.
Investing in silver also offers the benefit of solitary ownership and easy management. As long as you know how to safely store your silver bullion, you might not need to rely on a third party to control your safe-haven assets. Once you own silver bullion, it belongs to you, and it cannot be hacked. Yes, you have to worry about counterfeits, but not if you buy from only legitimate sources.
Demand continues to grow for silver, which is why it is a good idea to invest in silver.
Biden's Presidency: Why Buy Silver Now
Firstly, Joe Biden won the US 2020 election. As a major supporter of the Green New Deal, Biden’s impact on the silver price is inevitable. Silver is one of the best conductors of electricity and heat, and one of the most light-sensitive metals in the world. This makes it ideal for solar panels on top of its preexisting use in batteries, for purifying water, and in the fabrication of control rods in nuclear reactors. On President Biden’s campaign website, it is written:
“We can lead America to become the world’s clean energy superpower.We can export our clean-energy technology across the globe and create high-quality, middle-class jobs here at home. Getting to a 100% clean energy economy is not only an obligation, it’s an opportunity.”
Biden’s aggressive stance on climate change goes to show that the US will shift to greener technology on a national scale. Therefore, silver demand will climb if he holds up his promise to fight against climate change. However, this comes with a price. The silver supply ....
To read this article in yahoo Finance in its entirety, click here.