I’m going out on a limb here and making a prediction for 2019, that silver will rise up in value significantly.
Let me start right now with this…
Disclaimer: This post references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
I’ve been following silver for years since first getting interested back in it back in 2011.
It’s been part of my wealth building strategy. In a way, it’s a forced savings. Yes, you can sell your precious metals but there’s an added hurdle that can stop you from doing so.
In addition to buying onto and holding the physical silver, of which I have some, I use a trading service for easier use. With this I can automatically transfer money into silver every week or month.
I use a company known as OwnX.
(In the sake of transparency, I do get rewarded for people signing up through that link. It’s great in that it’s a way to have my precious metals generate interest sort of.)
They actually hold onto the physical silver (and gold) for you and you can take delivery at any time. There are some fees to this, but as mentioned their rewards program offsets it and then some, at least for me.
Back when I started buying silver it was actually at a higher price than now!
This may not sound too great to you when I’m saying it’s going to go higher.
Interestingly the highest price silver has ever been at was way back in January 1980 at $49.45. That’s not including inflation. Nothing, I repeat nothing else, has its highest price ever back in the 80’s.
There are a number of reasons that it won’t likely stay this way for long.
It seems that silver has had its price suppressed for a number of years and that has to end at some time. (For example, employees at JP Morgan Chase have just been found guilty of crimes in trading precious metals.)
Silver is not just used as a store of value, like gold is, but is used in a wide range of industries. Those uses are growing.
And less silver is coming out of the ground.
These reasons and more and some say a 10x in price is not unreasonable.
At the current price of close to $16 per ounce, silver is quite cheap. (Actually, it’s already gone up recently. It was just under $15 at the start of the year so the upwards movement may have already begun.)
Remember the bitcoin explosion that happened a little over a year ago? Did you profit from that? I did, as I started investing in Bitcoin a couple years before that ever happened.
Something similar could be happening in silver soon. Probably not quite as big, but certainly significant.
Exactly when, no one can say, but that’s how these things go.
Again, not investment advice, but just sharing something that I’m doing. And with this out there publicly, we’ll see how my prediction goes.