Analysts pay special attention to silver, whose yield can confidently compete with gold in recent years. In support of their words, experts cite weighty economic arguments: the higher yield potential of silver is explained by the place of its extraction – lead-zinc and copper deposits. That is, with high demand in the silver market (and automatic price growth), development companies may simply not respond with regular investments in mining, because they are guided, for example, by the cost of copper. However, for the sake of objectivity, it is worth adding the following: despite the fact that the yield of silver may be higher than gold, the investment risks are higher here.
Another worthy alternative to gold is platinum, which is actively used in industry today. In the case of this precious metal, it is more correct to switch to the language of numbers. Recently, platinum has a clear growth potential to $ 1,100 - $ 1,200 per Troy ounce. Moreover, to predict the price of silver, they usually use the ratio to gold at the level of 70-75. This means that with our estimated range for gold at $ 2,200 - 2,400 per Troy ounce, the target for silver is above $ 30 per Troy ounce.
With silver and platinum, everything looks quite attractive and promising, but what about palladium? Palladium is doing well thanks to the growing demand for personal cars. Since it is developing almost exponentially, a global shortage of palladium may occur in the very near future. Thus, where there is a deficit, there is an increase in prices.
However, no matter how attractive and tempting all the three alternatives to gold, do not forget that investments in metals are quite volatile and do not guarantee any extra income, except for value gains. In addition, there is also a procedure for paying for storage. This is usually a small amount, however, you should not ignore it at all.
Therefore, despite all the recommendations and appeals of experts, it is important to first weigh the pros and cons. If you still decide to try an alternative to gold, then for long-term investments in precious metals, it is better to choose companies that are directly engaged in their development.
