Silver seems to be doing great lately. With Gold, Silver is mostly presumed as an side hero. People usually buy Gold because it has given good returns in the past. Silver is mainly seen as the poor man's Gold, because it usually is cheaper. Now from the last 3 months, we have seen a big break in Silver and it has made us to think that is Silver the new Gold.
PC: Investing.com
The silver fund has given a spectacular return in the past year and basically it has surpassed Gold in terms of performance. But the question is whether you have missed the rally or is there any more upward movement. Before that let's understand why the Silver has skyrocketed in the first place.
Before going into why the Silver skyrocketed, do you know that Silver is a significant material in the Solar panels. Silver plays the vital role in generating the electricity using the sonal panel. Now with the rise of EV vehicle as well as need of more cleaner electricity, more solar panel is needed. And you know whoc is ahead in the race to create Solar panel, China.
The demand of Silver in China is so much that the local Silver price is much more than the global price. And this is the start, the price might go up in the near future. But Silver is unpredictable, it has a history of giving very low or no return for a big period of time.
I too invest in Silver ETF but via my ETF Shop and thus, I usually sell when I get the 6% profit and reenter when it goes down a bit.
