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Should you buy silver?
Silver recently had its best week since 2016. Should you invest? Yes — but with a caveat. Some experts are predicting silver will decline, as it tends to do during periods of lower growth. On the other hand, silver has a myriad of industrial uses, including in:
- Electrical switches
- Photovoltaic cells for the production of solar energy
- Superconductors
- Nuclear energy
- Formaldehyde
- Engines
The fact that silver is valuable not just for jewelry but for industry as well means that there will always be a demand for silver. So should you buy it now? Maybe, maybe not. If not, then gold and bitcoin are likely good options. Either way, it’s important to diversify your retirement portfolio, so it’s not all in stocks and bonds.
