When it comes to investing in precious metals in Vancouver, there are two primary options that people can have and that is gold or silver. It’s highly recommended to have both in your investment repertoire. But make sure you recognize the pros and cons of both so you can make a better decision as to which one deserves your attention.

Benefits of Silver

Silver is a good starting point for beginners. It is less expensive compared to gold, so if you are on a budget or you don’t have a big capital yet this can be a good choice for you.

It’s also good to have silver in your investment repertoire no matter what your budget is because silver is not as volatile as gold. It is sought after due to its industrial applications and that’s not going to change in the near future. Many industries require the use of silver.

Interestingly, silver has also gotten stronger in the past few months since the start of the pandemic. Statistics say that it has enjoyed a value increase of up to 70%. Compared to the 4% increase in gold, this bodes well for silver investors, especially those seeking short-term investments.

Benefits of Gold

Gold, on the other hand, is a strong long-term investment option. The interest in gold has dwindled since the market has strengthened but during economic downturns, its value tends to increase. A good strategy for investors is to invest in gold while it’s still cheap and then sell it when there is an economic slump.

It does require more initial capital compared to silver. However, it enjoys stability over the years. Gold can also be purchased through ETFs or Exchange Traded Funds or Mutual Funds.

The important thing is to have variety. You can have a mixture of gold and silver to enjoy the benefits of both. It’s also important to know where to buy your precious metals in Vancouver. You can check out shops like J&M to ensure that your precious metals are genuine. Buy them in jewelry or bullion form. Gold, for instance, can be invested in the form of coins and bars. Just make sure you have a plan on how to liquidate them when the time comes.