“Silver calls silver”Is a saying that exists in almost all languages and that describes a special magnet situation that occurs with money.
Silver, a sometimes forgotten precious metal, is trading at the time of writing at its all-time high of $ 27. So far this year he has a cumulative profit of 10 USD.
In recent days, the main financial newspapers only talk about the new highs for gold, leaving silver on the second side, which has a higher percentage yield in 2020.
La Plata calls La Plata
The old and well-known saying perfectly applies the development of the precious metal in 2020. Silver started the year at US $ 17.50, and then touched a low of US $ 12.60 in March.
On the other hand, gold is unstoppable and is already consolidating above $ 2,000, more precisely at 2,040, the highest value in its history.
Undoubtedly, the strong growth of precious metals, together with safe haven currencies such as the yen and the Swiss franc, are warning us that the worst of the global financial crisis is yet to come. In addition, we must add the strong rise in Bitcoin, which has long been used as a store of value.
At the time of writing a BTC can be bought for US $ 11,600.
So far this year, Bitcoin has a 62% yield, Silver 52% and Gold 35%.
As can be seen, the 3 assets have a more than interesting performance in the first 8 months of 2020, with Silver being even higher than Gold.
Returning to the subject of silver, its strong rise can be summarized in 3 main points
- Shelter from the uncertainty of the financial markets
- High demand for metal for electronic products
- Great investors, as Robert Kiyosaki recommend
At the end of the edition, silver can be purchased through CFDs in the main online brokers for around US $ 26.80.
If we look at the graph above in detail, we can summarize that in 2020, “Silver calls Silver”.
I say goodbye until tomorrow with this phrase from Robert Kiyosaki:
“The difference between the rich and the poor is this: the rich invest their money and spend what is left. The poor man spends his money and invests what is left ”.