Silver

Silver has been the most widely used monetary metal for day to day use by ordinary citizens in the history of the world.  It has endured centuries of economic and political crisis, yet has always emerged as a universally accepted currency and store of value.  While gold has been used for government-to-government transactions, it has been silver that the people have used to buy their bread.

Although silver is relatively scarce, it is the most plentiful and least expensive of the precious metals.  Today, the demands of modern technology have revealed the remarkable rage of electrical, mechanical, optical, and medicinal properties that have placed silver as the key metal in many applications.  Out of all the metals in existence silver is unsurpassed in its ability to conduct heat and electricity.

The major industrial applications of silver are:

• Photography
• Jewelry/Silverware
• Medicine and Dental
• Electronics
• Water Purification Computers
• Telecommunications

Silver is sometimes referred to as “poor man´s gold,” but during the last major bull run of precious metals in 1979-1980, silver far-outperformed gold rising to its all-time high of $50.36 per ounce.  In 1976 silver was $2.50 an ounce.

Today, silver is once again a tremendous buying opportunity ($22.00) after correcting from the last run to $49.50 in 2020.  With current demand outpacing new supply, and the lowest inventory levels in years, the pressure is building to take silver to the next new high, which in our estimation will be well north of $50 an ounce.

During long term secular bull markets in precious metals, gold always outperforms silver in the first three quarters of the bull market.  But as the last phase of the bull market begins, silver outperforms gold by a wide margin, thus the need in our view to own both metals.

Personally I am on record saying that within the next five years (currently 2022) gold and silver prices will go to levels the average investor simply cannot understand.  When I say gold $10,000 an ounce and silver $200 an ounce I am being conservative.  I actually believe that when the financial system crashes, (not if in my opinion, just when) that gold and silver prices will go to much higher levels.  How high depends on the severity of the crisis.

This will be due to a collapsing fiat currency system worldwide that will drive precious metals prices into the stratosphere.  When you understand how tiny the physical gold and silver markets are you begin to realize what must happen to precious metals prices when literally oceans of failing fiat currency suddenly wants physical metal.  There will be no room to receive it.  It will make the dot.com bubble look tame by comparison.

At AmeriGold, we highly recommend building a position in silver.

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