First I have to identify myself as not really a precious metals investor, just an observer without any qualifications beyond being particularly interested in silver as a more accessible precious metal for me. My understanding is that silver is still priced below the historical ratio it has with gold, and that it will eventually catch up to this, reasons for it (whatever those are) being the same. Buying now would later be more profitable than buying gold now, if what I’ve just described is true.
I think part of the slight downturn might have been what you mentioned: industrial use of silver falls when industry and the economy falls. I think it’s rebound tells that it’s use as a store of value overcame that. It was closing in on $50 an ounce just a little while ago. I could easily see it doing that again.
*its*
I wish there were another color of squiggly line under words commonly misused: its/it’s, there/their/they’re.
“It was closing in on $50 an ounce just a little while ago. I could easily see it doing that again.”
The last time silver hit $50 was in 1980. You should get a substantially history-cognizant view of silver’s “DNA” as we call it. I’ve posted some info downthread on this.
$50 is a 30-year anomaly. If you like silver, please feel free to like silver. I do. Just widen your perspective some.