Is Silver At The Beginning Of A Double Digit Move Upwards?
Paper money may be the new norm but precious metals have been used since the beginning of recorded history as currency. Some suspect even further back than that. Among these precious metals none stand out quite so much as silver. Silver can be found in a variety of forms throughout history and even in modern day. You can purchase silver bullion, silver bars and silver coins. The standard for the quality of a silver coin or bullion is .999, also known as fine silver.
While not the most expensive of the precious metals silver has a history of holding its value. When the stock market and other investment industries may be at their worst silver is at its best. The vice versa also holds true, when the stock market is at its peak silver is at its lowest value. This provides those who want to secure their futures with a perfect time to invest. Currently silver is at a five year low but it is slowly starting to spike back up.
Throughout time silver has had a reputation of being really low then breaking upwards. A similar trend can be found in 2010, 2011, and 2013. When the volatility for silver is low, which it is, it is an indicator that something is getting ready to happen.
Gold is also on a low trend. Currently many parts of the stock market are on an upward trend in the United States. That trend won’t hold for long though. With how bad the economy is doing around the world the stock market isn’t forecast to stay in great shape. China had a recent stock market crash and countries have come very close to defaulting on their debt. It is only a matter of time before the US has a financial slip up, even if it is temporary. When the stock market goes down, up goes the value of gold and silver go up, usually dramatically.
Another big sign that silver is going to make a double digit move upwards is the demand. Typically when a precious metal is in demand it starts to do better in the market. Currently the demand for silver is holding strong despite the down turn in the demand for gold ETFs. Last year the sales of silver broke records and currently the market is on the same path. Demand for the fabrication of gold coins is the highest it has been since 2007.
Experts say that while it is possible for silver to drop below its current $18 per ounce price point it would be very unlikely. Should it happen we would likely see it bounce back up quickly. It is common for silver to hit a low then suddenly the boredom goes away and silver starts to skyrocket again.
The lower silver prices have played a big role in keeping the demands for silver high. People who wouldn’t normally be able to afford silver can now purchase coins.
It wouldn’t hurt to use the low price point of silver as a time to purchase. You can invest in silver in the traditional method of buying silver bullion or coins but there are other options. One of the most popular options when buying silver for retirement is to create a silver IRA rollover. These retirement plans are tax deferred and give you big breaks when it comes to taxes.
Gold and Silver IRA rollovers are incredibly easy to setup and they help to keep your retirement investments safe. One of the best parts of a silver IRA rollover is that you can take an existing retirement plan and roll it over into your silver IRA. That means that you don’t need a massive investment to get started if you are interested in investing in silver to retire.
There are a wide variety of places to purchase silver. If you do decide to purchase, make sure that you are purchasing from a reputable source. There are plenty of websites that provide reviews of silver selling businesses, the Better Business Bureau being among them.
Should silver follow the past trends it will start to make its way up in value. The likelihood of silver moving up into at least the 20s is very high. If there were ever a time to get started in the silver market it would be now, while it is still low. You don’t want to miss out on a chance to buy low then sell when it gets to its highest again.