New to gold investing? The flat, rectangular shape of silver bars makes them ideal for storage in a home safe , a safe deposit box at a bank, or placed in allocated (also known as non-fungible) or unallocated (fungible or pooled) storage with a bank or dealer. Silver is traded in the spot market with the code “XAG”. When settled in United States Dollars, the code is “XAGUSD”.
Karvy’s Prasad says investors should buy whenever there is a price correction and stay invested for some time to get good returns. At the same time, he advises staying away from equities for the time being. Also, bond yields are not attractive. It may be better to cash in on the volatility in gold, he says.
Adrian Ash is director of research at precious metals trader BullionVault. He believes silver’s moment has come – ‘Cinderella’s time at the ball’ – and describes the potential for future sharp price rises as akin to ‘gold on steroids’. He says more silver than gold has been traded by BullionVault customers over the past 30 days – a reversal of the trend for earlier in the year – and believes it is because most people are of the opinion that it is catch-up time for silver.
One of these is Russ Mould, investment director of wealth manager AJ Bell. Although Mould says that ‘anyone who thinks they can predict where commodity prices are going is kidding themselves’, he does believe that the long term outlook for silver and gold prices is positive if the world economy progresses in a certain way.
Platinum is another precious metal used extensively in jewelry and is actually more expensive than gold. It is usually mixed with similar metals like palladium, or iridium. Quality markings for platinum are different than that for gold. For platinum it is based on parts per thousand. For example, the marking 900 Platinum means that 900 parts out of 1000 are pure platinum. The abbreviations for platinum-Plat. or Pt. can also be used in marking jewelry.