And we are not talking about the Lone Ranger’s horse.
For the past 3 years we have been great advocates of silver. And with good reason. It is arguably the most amazing metal on Earth.
Silver is the best conductor of electricity of all the metal elements – making it a modern necessity for the myriad of electronic devices we have. Smart phones, computers, LED monitors and televisions.
Silver is an excellent conductor of heat and has a particular light sensitivity making it ideal for photovoltaic cells and photography, including radiography.
Silver has antibacterial properties. In seafaring days of old, two silver coins would be placed in a water barrel to keep the water fresh and microbe free. These days it is used for surgical bandages and in advanced antimicrobial nanotechnologies. Plus, it gets added into sports clothing to keep athletes smelling nice.
Silver is highly malleable and ductile and it does not rust. As such silver has been used a monetary metal for going on 3,000 years.
And as you can’t print silver – silver is indeed ‘Good Money’.
So why the excitement?
For many a Silver Stacker it has seemed a very long time for the market to again recognise the true value of this amazing metal.
Three months ago the silver spot price was a mere $US15 per ounce and this was the middle of a pandemic. We say ‘mere’ as silver was trading at $US50 back in 2012 and even back in the 80s.
There were many reasons put forth on why the price of silver was so low – which we will not go into now. More importantly for the silver investor and stacker however, the silver price is now flying.
Between May and mid-July the price saw a steady rise to $US19. Over the past month it has really taken to the sky. Just 12 hours ago it looked as though it would break $US28. As I type this post now it has broken $US29 and is tapping on resistance at $US30.
In the midst of a global pandemic, geopolitical uncertainty and unprecedented levels of currency printing – investors are once again turning to the tried and tested safe haven that is SILVER.
To get your head around the current silver story and the physical silver shortage we are seeing – we suggest you start here.