Is buying gold or silver a good idea right now?

The answer is yes, so check it out. Here's what to do if you want to invest a small amount of money in silver. Silver has greater potential for improvement because it is used in industrial applications. Gold and silver are especially popular commodity investments, largely because of their historical relationship with money.

For those looking to invest larger amounts, a Self Directed Gold IRA can be an excellent option. Governments once used gold and silver to make their currency. Although no major economy is using gold or silver as the basis of its currency anymore, investors continue to view these two metals as active deposits of value. Silver is more volatile, cheaper and more closely linked to the industrial economy. Gold is more expensive and better for diversifying your overall portfolio.

One or both of them may have a place in your wallet. Both silver and gold can function as safe haven assets, but gold tends to have a better track record over longer periods of time. That said, in shorter periods, the specific dynamics of each market end up being more important for their respective returns. Regardless of the asset you buy, remember that neither asset generates cash flow, so the best thing for long-term investors would be to take a buy-and-hold approach with a profitable and growing portfolio of stocks.

Since silver is an industrial metal, it is more vulnerable to recession and to pressures affecting manufacturing companies. These factors may affect gold, which also has its industrial uses, but in general, gold is based more on investor confidence. Therefore, gold acts as a better and purer hedge against the economy and the stock market. Demand for gold and silver comes from different sources, with gold being primarily an investment asset and silver an industrial asset.

If not, I encourage you to buy physical gold and physical silver now to protect your family's wealth.