Robert Kiyosakithe author of “Rich Dad, Poor Dad” said last August that he would rather buy silver than gold.
“For the 20th century, the gold:silver ratio was 47:1…47 ounces of silver = 1 ounce of gold. Today 85:1. Why I Suggest Buying Silver. Anyone can buy a silver coin for $25,” Kiyosaki tweeted.
FYI Gold-Silver Ratio Oldest Recorded Rate in History: For the 20th century, the gold:silver ratio was 47:1…47 ounces of silver = 1 ounce of gold. Today 85:1. Why I suggest “buy silver”. Anyone can buy a silver coin for $25. Don’t take my word for it. Learn. Become rich. don’t be a fool
The context: Unlike gold, most of the silver produced is used for industrial purposes. This means that a relatively small percentage of the metal is available for investment. Although silver is more common than gold, the amounts available for investment remain almost the same for both metals, according to Mining.com.
Price Movement: Spot silver was trading at $20.33/oz on August 1, 2022. In mid-July, spot silver was trading at its lowest level in nearly two years, below $19/oz. Spot gold was trading near $1768.49/oz. In July, the yellow metal had also touched levels last seen in March 2021.
Where is the demand going? According to The Silver Institute’s 2022 World Silver Survey, global demand for the metal is expected to increase by 5%, while global supply is projected to increase by just 3% mining.com.
Gasoline Gas Take: Rising interest rates are expected to put downward pressure on silver prices as expected by weak demand. Although the Fed has raised rates aggressively while hinting that the pace of further rate hikes would be slow, there is still much debate as to what the most ideal neutral rate would be. Silver prices would find definite support whenever there is a concrete indication of what level the rate hike will reach.
The…
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