It is Time to Invest in Silver

Although both of them are precious metals, with a limited amount of deposits underground, gold was always been the chosen one and silver hasn’t got the importance it deserves. One ounce of silver as of today march 21st of 2010 costs about fifty times cheaper than an ounce of gold. Though the deposits of silver are limited, the usage of silver has been rapidly increasing in various industries like Electronics, Pharmaceuticals and chemical industries.

The amount of silver deposits in the world is about 8 times to that of gold, so according to that one ounce of gold should buy you about 8-10 ounces of silver but that’s not the reality. Today the price of gold steeped so high, it touched as much as 70 times the price of silver. Since both of them are precious metals, the price of silver should have also rise according to that of silver but silver was never into the limelight as that of gold. However, with increased use of silver in so many industries, the consumption of silver has gone up considerably. According to the national geographical survey of United States, the total resources of silver will be gone by the year 2020 if the usage goes on at the current rate.

With an increase in demand and the shortage of supply, the price of silver is definitely going to rise and if you have a look at the price of silver in the past to that of today and you will know the difference for yourself. Just about 4 years ago the price of 1 oz silver was about $7, is now selling for $16. Therefore, it is definitely a wise investment if you can buy and stock up silver and sell it after some years when the prices have gone up. Gold price is saturated and we could never see it past cross the doubling mark but silver price has tripled and even quadrupled from its previous prices.