Since the global pandemic outbreak, the investment world has been stood on its head and shaken all over the place. There were predictions of stock market crashes, shortages of foods, and other consumables, and all this fearmongering had people panicking. In the initial days of the pandemic, a lot of money has been wiped from stock exchanges worldwide, with many people losing a lot of money.
However, some traditional safe-haven investments stood up to the test and have seen their popularity surge. Gold and silver have proven why everyone should have these precious metals in their investment portfolios throughout the pandemic. Below are some of the reasons you should invest in silver and gold bullion in 2021 that could prove to be lucrative for you.
It Is Easy To Purchase Gold & Silver Bullion
You do not need a trading account when investing in gold and silver, unlike when you invest in the stock market. Anybody can easily purchase gold and silver bullion from reputable precious metal dealers such as https://citygoldbullion.com.au/ and add these to their portfolios. When you are looking to make a purchase, there are some considerations you will need to think about before buying. You will pay more than the gold bar value when investing in gold as there will also be a commission for the seller and transport and insurance fees. You will also need to consider where to store it and ensure you have adequate insurance, as your home policy will not cover your investment.
There Is A High Demand For Gold & Silver
Another reason it is worth considering investing in gold and silver is the demand for them, which is continually rising. Gold has many more uses than most people think, and you can use it for investment, jewellery, and currency, but there are many other practical uses as well. Gold is an excellent conductor of electricity, so it is used in many electrical products, including Smartphones.
Gold is also used in the medical industry for many treatments, and it is also commonly found in the aerospace industry being used for spacecraft and satellites. You will often have items in your home that contain gold that you may not be aware of, and you can even have them in the connections at the back of your television or music system. You can see a comprehensive list of the ways that gold is used, and you can find several related articles online.
The Value Of Gold & Silver Will Increase
There is a finite amount of gold available on earth, and until we can travel to other planets to mine precious metals, we have a limited supply. As such, as the gold starts to run out, you will see the price increase significantly, with some estimating that it may end up to five times its current value at almost USD10,000. If you have the money to invest in gold and other precious metals now, and you can get in before the prices increase further, you can make an intelligent investment. Sit on your investment for a few years, and it could increase in value substantially.