Know about Retirement Planning and the best time to start making investments for a steady stream of money after retirement.
Invest in GOLD and give a boost to your investment portfolio
Smartest investment and life plans in UAE
Silver, on the other hand, remains in its shadows, but in the form of an asset. It constitutes the similar qualities for wealth protection and probably with even higher potential for returns.
As opposed to physical gold, which is being used at lesser quantities in the industry, physical silver is being used in a huge range of industries including medicine, electronics, defence, and photography. Silver is considered to be the best conductor of heat and electricity and is a very reflective metal.
Recently, modern medicine has rediscovered the anti-bacterial qualities of silver, with its properties that involve germ-fighting causing an explosion in the products that contain silver. You will find silver in sportswear (for killing germs that cause body odour), coatings for washing machines and fridges, fabrics for airline and public transport seats (for preventing the infections from spreading), and even in the band-aids and antiperspirant sprays.
From the investment perspective, precious commodities have been acting as the most popular commodity since forever. Gold and silver, in particular, have been the most sought after metals, not just due to their lustrous appearance, but also due to the reason that they are an attractive option for investment.
Although, in the investment point of view, silver isn’t as famous as compared to gold. In fact, it is a practical and smart investment nowadays.
However, being in the gold’s shadow constantly, the silver rates are influenced by every shift in the gold price in UAE as well as the currency. But, if you are considering to invest in silver, you must know that it has the potential of earning attractive returns.
In terms of investment, you can avail silver in the form of bars, jewellery, coins, ornaments, utensils, and more. However, silver bars are considered to be the best when it comes to purity. They can be bought at the basic rate of silver and are available at a lower price as opposed to other forms such as jewellery and coins.
You can also get silver in the form of bullion- the investment-oriented version of silver. The silver coins are expensive and can be bought from jewellery shops, private dealers, or banks. Most of the people use these coins as presents during religious activities. Because of its purity or quality, the banks charge a higher amount of premium for selling silver coins. These coins are measured in tolas, grams, ounces, and other units.
Now, we know that both silver, as well as gold, are precious metals. The question, however, is which one should you purchase?
In the UAE, where there is gold mining at a large scale and which is home to Dubai- The City of Gold, it may be difficult to take over the position of gold. Somehow, silver is not venerated in the same way as gold, restricting it to that section of our society, which we commonly call “not so well off”. Probably that is the reason most of the people in our society remain oblivious to the silver trends and their potential returns. For those people, making an investment in a precious metal refers to purchasing gold only.
Putting it Concisely!
Making use of precious metals in the form of investment has been a common trend for a very long time. These days, silver, though not equally famous as gold, has now created a trend amongst the investors too.
The reason is its unprecedented demand from the industries and the limited supply throughout the world. Taking the price hike in consideration, the silver investment can also prove to be an ideal option for long-term investment. Therefore, a lot of people are starting to open up to the concept of a silver-lined future.
However, one cannot ignore the profits of investing in gold. Analyze your needs and expenses and make a wise decision on whether to invest in gold or in silver.