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Three reasons why you should buy silver

by , 16 October 2015

Along with other commodities, silver has had it tough over recent years. But things appear to be changing for silver.

So why should you buy silver today?

Read on to find out…

Reason #1: Sales of silver are on the rise

Over the third quarter, the US Mint sold 14.26 million ounces of American Eagle silver coins. This is the highest level in 29 years.

The strong demand for these silver coins has led the US Mint to run out of the coins and having to limit sales.

And the US isn’t the only place seeing a rise in demand for silver. It’s happening in Canada and Australia too.

Reason #2: The silver price is lagging

The price of silver has been heading lower since 2011. But this fall is starting to lag. This could indicate that a reversal is on the cards for the silver price.

With the price of silver yet to reflect the uptick in demand, Sean Brodrick in Investment U believes a breakout is coming.

Have a look at the chart below of the silver price…

Chart of silver price

Reason #3: Demand for silver from China is creeping higher

As well as demand for jewellery rising in China, there’s another factor that could help silver. This is solar power.

When making solar panels, silver is used. And China is on a drive to make and use solar panels.

And this demand for solar panels is strong across the globe too.

This is good news for the price of silver. It could see a rise of over 140 million troy ounces of silver to make enough solar panels to keep up with demand.

With the uses of silver on the rise and general demand higher, it’s surely only a matter of time before the price starts to react higher.

So there you have it. Three reasons why you should buy silver.

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Three reasons why you should buy silver
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