Gold and silver are rallying on the news of international conflict from over the weekend. The Israeli-Palestinian conflict has intensified, with the potential to escalate throughout the Middle East, and that has sent oil prices soaring, along with other commodities like precious metals.
In times of crisis, investors reach for gold and silver to add stability to their portfolios. As markets brace for volatility, bullion has started to rally after approaching its lowest level since March last week, when it was impacted by the indication from the Federal Reserve that it would keep monetary policy tight.
In times like these, it helps investors to sleep well with peace of mind to hold precious metals in their portfolio. While gold is the go-to, silver offers many of the same hedging properties, with the added upside of its industrial demand, lower buy-in, and easier divisibility.
Silver has long been undervalued and the current spot prices mean an opportunity to obtain silver at lower prices. 2023 is expected to be another of solid silver demand, according to The Silver Institute. Industrial fabrication should reach an all-time high, boosted by continued gains in the photovoltaic market and healthy offtake from other industrial segments. Although bar & coin demand and jewelry fabrication are expected to fall short of 2022’s exceptional levels, both are forecast to remain historically high.
Supply, by contrast, is expected to achieve only low single-digit gains. As a result, this year will also see another historically high deficit for silver. Yet, nearly 3/4 of the way through 2023, we are still not seeing these fundamentals reflected in the spot price of silver. Silver decreased 9.5% last month after slipping 0.6% in August and gaining 8.5% in July. It’s down 9.6% in 2023 with just a few months to go.
One of the best ways to own silver for the money is in the form of bars if obtaining precious metals at the lowest premium possible is aligned with your goals for owning metals.
Give us a call at 1-800-831-0007 or email us to place your order on LBMA-approved 100 oz. silver bars today!
100 oz. Silver Bars
Just $1.49 over spot per ounce
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 100 oz. silver. Free shipping, handling, and insurance are available for silver purchases of 500 oz. or more. Bar selection is random and dealer's choice. Offer expires Friday, October 13, 2023, or while supplies last.