Silver Price Per Ounce
Buying Silver vs. Gold
Gold has hit record high prices during the past few months, but it has skyrocketed in the past decade. Gold is expected to triple in price within the next few years as the economy struggles to recover. Both gold and silver are projected to continue their exponential increase over the next few years. However, silver is currently hovering between $26 and $34 per ounce where gold is between $1650 and $1700 per ounce. When you invest in gold, you get much less quantity of your physical asset than you would with silver.
Silver has not yet hit a record high recently, but that makes now the best time to buy silver. This is because silver is expected to increase in price per ounce very rapidly over the next decade. As the financial markets suffer, unemployment rates are through the roof, and hyperinflation is imminent, precious metals like gold and silver have proven to be a very stable investment platform with incredible ROI potential.
If and when the global economy does recover, physical assets like the precious metals markets will not collapse. Financial markets, like stocks, bonds, 401K and IRA retirement accounts are built on the shaky foundation of paper currency that is no longer backed by a tangible asset. Gold and silver have served ass successful monetary units for thousands of years, and they will continue only to improve as demand continues to rise.
Both gold and silver have desirable properties that make them beneficial well beyond their monetary value in the paper currency equivalent. Precious metals like silver and gold are really the only true way to protect against inflation. When the US government moved away from the gold standard in 1971 (for whatever reason), they ensured hyperinflation to be inevitable as history has proved time and time again.