Here our some reasons why we think that buying Gold and/or Silver is a good idea. Remember, this is not financial advise, but instead common reasons why people buy the precious metals in the first place:
- Gold & Silver retains their values over the long term
- They don’t corrode or damage over time
- They have been used since ancient times and thus are tried, tested and universally recognised.
- As central banks “print” more and more fiat “money” (it’s actually currency and not money!) there are more dollars, pounds or euros for example chasing the same fixed supply of gold or silver. In turn, it would mean that the prices have to rise and they have proven to continue to do so over the long term.
- It’s a great diversification tool for an investment/retirement portfolio as it’s in a category of its own right.
- Being a physical product (as opposed to a stock) it takes longer and a bit more effort to sell, meaning that it’s also a great way of saving, since you will be less tempted and bothered to sell it to buy the next new iPhone like you would a stock.
- It’s money outside the banking system, which is re-assuring since we have nearly all our savings in it already.
- The world’s gold and silver supply is shrinking and getting more and more expensive to mine.
- Uncle Scrooge will be proud of you 😀
Have we missed another great reasons? Please get in touch and let us know!