Gold vs Silver

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Gold vs Silver what is the difference?

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There are several differences between gold and silver.

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Gold is dense than silver. Pure silver is 84% larger in volume than pure gold. This means silver takes up 128 times more space than gold for the same dollar value.

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For example, $50,000 worth of gold weighs about 2.6 pounds, but the equal value of silver weighs about 189 pounds.

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Gold is more expensive than silver because it’s by far the rarer metal. Worldwide, just 3,300 tons of gold were mined in 2019, compared to 27,000 tons of silver, according to the U.S. Geological Survey (Mineral Commodity Summaries 2020.)

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More than half of the demand for silver is from its countless industrial uses. It is used in electronics, automobiles, solar panels, medicine, and manufacturing, to name a few.

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Because it’s so vital to industrial activity, demand for silver tends to rise and fall with the overall economy. When production picks up, silver prices are likely to increase. If it slows, silver often tumbles. Silver is more volatile than gold.

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Gold is favored by investors as one of the safest investments.  Gold is a safe haven in times of inflation because it retains its value much better than currency-backed assets, which may climb in price, but drop in value.

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Another difference between gold vs silver reflects in the price:

Gold        $1,800.00 per 1-ounce
Silver      $      24.00 per 1-ounce

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Shop Gold - The Lowest Price. Period.

Bottom line

Because of silver’s affordability, it may be more appealing than gold if you’re seeking to build your precious metal investment. But as a long-term hedge, gold is more attractive.  A reachable plan is to purchase silver monthly, then trade it in for gold. Continuing good investment habits is a great way to obtain your golden empire.

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