Sunday, April 14, 2024

Before You Buy Gold and Silver, Here Are the Things You Should Know

Before You Buy Gold and Silver, Here Are the Things You Should Know

The main reason why precious metals are so valuable is because they are basically rare. In other words, there is a limited amount of these minerals that are produced every year, so their scarcity is the reason why their value increases so much. Today, we will talk about the things you should know before you buy gold and silver. Gold is the most popular precious metal in the world, as people and nations have placed a high value on this metal that reflects light like no other. It is worth mentioning that gold has a double functionality. On the one hand it can be used for industrial purposes, and on the other it is used in financial applications.

Before you buy gold and silver, you should also know more about its uses

Not only is gold a metal that has a high thermal resistance, but it is also a metal that conducts electricity and is malleable. In the industry, its consumption is 10% of the supply of gold that is extracted from the mines each, including sectors such as electronics, medicine and dentistry. It is a metal that has a long history as an ornamental or manufactured material and suffice it to say that the demand for jewelry represents 50% of all the annual gold production. As you plan to buy gold and silver, you should also know that gold is also considered as money, which is why many investors around the world own a large amount of gold in coins or bullion rather than other investment assets. In fact, 40% of gold production each year is directed to the reserves or properties of investors or governments from all over the world. Consequently, when the demand for gold is very high, the price of this metal tends to rise.

Over 30% of all gold produced is locked up in the foreign reserves of the central banks

Currently, countries have more than 30% of the gold ever produced in the history of the world as part of their foreign exchange reserves. Although the production of this precious metal is primary, meaning that companies explore and extract gold from the earth’s crust as their core business, in reality more than 70% of the silver produced in the world is secondary production. For those who want to buy gold and silver, this information is very important.

How about silver?

Silver is a by-product of the production of copper, zinc, lead and other metals. Due to its characteristics, silver is also a very attractive precious metal for investors. Suffice to say, this metal has multiple industrial uses such as its use in the making of solar panels, phones, computers, as well as many other electronic devices that require silver components. Now the question is: why should an investor buy gold and silver? There are several reasons why precious metals should be part of any savings or investment program. However, the most important of them all is that when investors begin to distrust printed money and other market assets, gold and silver traditionally retain their value intact. This means that they become a store of wealth in times of crisis. Do you want to buy gold and silver? Contact us now for high quality gold sold from Uganda.

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