Silver will crash once this whole "pandemic" is over. While the gold price increased steadily through 2019 and 2020, the silver price jumped by almost 100% in March due to the pandemic. This will come down next year. Now isn't the time to invest in silver.
I don't understand this logic. If fiat currencies such as the CAD tank, anything with 'real world' value (such as silver) will increase in value. This only makes sense if you expect the Canadian economy to recover, and right now I would say it looks more like financial disaster in 2021.
Our economy is so interwoven with the US economy that the only way the CAD tanks (and with tanks I mean absolutely tanks) is when the USD tanks. And the chance for that is pretty low. Even while we have a record deficit, the US even spends more per capita currently.
What will happen is that there will be a strong recovery in 2021 and the silver price will crash again down to pre-pandemic levels. Gold will also suffer, but not to such an extent. This doesn't mean that you shouldn't buy silver at any time. In my opinion just wait until silver is down to under $20 an ounce and then you can buy it. You would get more for your money next summer. Way more.
Gold.
I'd say silver too. It would be useful for smaller transaction. Gold is about $2400 an ounce Canadian right now. And ammo, of course.
Silver will crash once this whole "pandemic" is over. While the gold price increased steadily through 2019 and 2020, the silver price jumped by almost 100% in March due to the pandemic. This will come down next year. Now isn't the time to invest in silver.
I don't understand this logic. If fiat currencies such as the CAD tank, anything with 'real world' value (such as silver) will increase in value. This only makes sense if you expect the Canadian economy to recover, and right now I would say it looks more like financial disaster in 2021.
Our economy is so interwoven with the US economy that the only way the CAD tanks (and with tanks I mean absolutely tanks) is when the USD tanks. And the chance for that is pretty low. Even while we have a record deficit, the US even spends more per capita currently.
What will happen is that there will be a strong recovery in 2021 and the silver price will crash again down to pre-pandemic levels. Gold will also suffer, but not to such an extent. This doesn't mean that you shouldn't buy silver at any time. In my opinion just wait until silver is down to under $20 an ounce and then you can buy it. You would get more for your money next summer. Way more.