With the beginning of the crisis, all investors, bankers and states “rushed” for the gold in all its forms. Someone escaped from falling stock markets, some hedged against the devaluation of U.S. dollar. This is not surprising. In all ages the yellow metal served the last refuge of the capital. The wave of upsurge in prices for gold even brought new players-billionaires to the gold branch – a former oilman Roman Abramovich and steelworker Mordashov became to engage professionally in it.
And even George Soros increased the limits of his reserve to acquiring this precious metal to $ 500 million. Present days plenty of persons are trying to find refuge in gold, increasing its cost. But analysts are not so optimistic in their projections about its exceptionality, accentuating that for the time being gold is failing them. We cannot say it about another precious metal – silver.
Silver has always been a popular investment tool in the world markets. Apart from the inevitable speculative component, there are quite objective reasons for the increase in silver prices. This precious metal is much broader than gold: it is used in industry due to its special physical and chemical properties.
In particular, silver is used in the manufacture of electrical products, batteries, mirrors, cell phones, cars, water purifiers, photography, and is widely used in medicine. As for gold, in addition to jewelry, it is only used in microelectronics and pharmaceuticals.
And paying respect to the tendencies in developing countries, where manufacturing, notwithstanding the crisis, is growing simultaneously with the level of welfare of the population and the demand for high-tech products, the break between the demand for silver and its supply in the long term gives a promise to increase greatly that will result in an adequate rise in price for the metal. This suggestion is evidenced by the steady population growth in developing countries such as China and India.
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