(Newswire.net -- July 4, 2013) Phoenix, AZ -- With silver reaching a new low in the last few weeks, many are wondering if this is the time to buy the precious metal. As of July 4th, 2013 silver was under $20 per ounce, which hasn’t been seen since 2011. With the U.S. economy still shaky, knowing where to invest your money has become increasingly important.
Many investors are panicking, looking to get rid of their silver investments, but that might not be the best thing to do. Gold has always been the go-to precious metal to invest in, but now it seems that trend is changing with silver being the metal many are predicting will be the better investment. Silver is used more in products throughout various industries compared to gold, which means that as companies increase the demand for silver, the price for silver will go up as well.
Despite the recent price fall, demand for physical silver is high and will continue to rise in the coming years. One place that is investing heavily in silver is Asia, where demand is high even if it decreased slightly this year. In fact, it was the second largest silver consumer last year only behind the U.S. With industrial demand expected to increase along with the economy, silver will be part of that demand.
Although silver has under-performed gold so far, analysts and experts believe it will outperform gold in the long run. One such expert, Mike Dillard, believes that investing in silver now, despite any uncertainty, will be very profitable to people in the long run. In fact, he believes this gives all investors to get a second chance to buy silver at prices that may never be seen again in this lifetime.
Becoming a self-made millionaire before the age of 40, Mike Dillard knows the stress of wondering where to invest your money when you are hearing so many different opinions. He has built his wealth over the past few years and has become an expert on predicting where to put your money during economic downturns. In fact, he reveals the secret investment strategies of the rich in this video. His goal is to educate people on how to invest wisely and to accumulate wealth using proven investments that most people aren't aware of.
Based on the fact that the dollar continues to weaken, and that the price of silver hasn't been this low in years, even if you don’t make thousands of dollars by investing in silver, but only hundreds of dollars, don’t you think now is the time to buy silver?
Happy Independence Day!