A Beginner’s Guide to Investing in Gold and Silver
Coveted for thousands of years, gold and silver have often been at the forefront of our history. In this article, we take a look at how you can invest in gold and silver today.
The quest for gold and silver has in the past financed audacious sailing trips to new continents, whilst also encouraging many to settle in new lands. Used to finance trade or to display power, gold and silver were very much in demand.
So ingrained are these metals in our history that evidence from archaeology suggests that gold and silver mining goes back over 6,000 (!) years.
Today, these metals are used in a variety of different ways and can even be found in many electronics and medical devices. Let’s take a look at the value of gold and silver in the current markets.
Precious metal values
In investment circles, the term ‘precious metals’ refers to numerous metals, including gold, silver, titanium and platinum. This is because their scarcity means that they have high market values.
To add to the scarcity there is typically high demand for these metals - whether for decorative or industrial purposes. From high-end restaurants and hotels to the technology that powers your mobile phone, precious metals appear just about everywhere.
Comparing gold and silver
So how do gold and silver shape up against each other in the market? Gold is mainly used in jewellery, electronics, and official coins, while silver is also commonly used in photography.
The value of gold is typically much higher than silver, peaking at £1,100 in 2012, while silver reached a high of just over £18.
This makes sense when we reflect on the scarcity of each of these metals. Expert estimates suggest that there are 193,472 metric tonnes of gold in above-ground stock, compared with 1,740,000 metric tonnes of silver.
If you believe in the continued value of gold and silver into the future, why not start investing in them today? Check out their prices on Wombat and get started with as little as £10.