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Why 2020 may be the Year of Silver Instead of Gold

JP Buntinx
June 21, 2020

For many decades, investors have flocked to gold as the go-to safe haven asset. In modern times, there is a genuine chance that this narrative will shift, and also include silver. Many factors are aligning for the cheaper precious metal to have a major breakout.

Silver is Making Waves

This year alone, there has been a lot of talk about silver alongside gold. Precious metals enthusiasts and investors are changing this narrative to include this cheaper metal in their discussions. Doing so will not only bring more attention to silver, but it may also weaken gold’s position as the undisputed leader somewhat. 

For those looking to begin accumulating precious metals, silver is fairly priced, even at its current value. Building up a portfolio requires patience, timing, and cost-averaging. This latter factor is often overlooked by new investors. Buying smaller quantities of silver will add up over time. 

It is also worth mentioning that, unlike gold, silver’s gains – or losses – tend to materialize in a different time frame. It is a crucial commodity for patient traders who have high hopes for the future. Those looking or a quick flip are best off ignoring precious metals altogether. 

Many years ago, the Silverites suggested that silver should become the monetary standard. While their vision never came true, most experts agree that silver is still solid money in 2020. It is also a cheaper safe-haven asset compared to gold, giving it an extra layer of appeal. 

Keeping an eye on the Gold-Silver Ratio

Another contributing factor to the sudden popularity of silver is the gold-silver ratio. Despite this correlation hitting a high in favor of gold earlier this year, the current momentum looks very different.

Unlike gold, silver has an industrial application that is much bigger compared to gold. Whereas gold is genuinely a precious metal, silver is both an industrial and precious metal. As economies around the globe recover from the COVID-19 pandemic, it is a matter of time until global demand for silver picks up again. Gold may not be treated the same way. 

Ongoing stock market volatility will remain a contributing factor throughout 2020. All major stock market indexes remain under  a lot of pressure. News of Apple shutting down several stores across the United States has thrown a wrench into any uptrend that seemed to materialize. 

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