Should I Invest In Gold, Silver, or Bitcoin?

That big question is likely coming into focus for investors, traders and speculators as they seek safety or protection even with the stock market at record highs.

When the US Federal Reserve started to move interest rates, people flocked to gold and Bitcoin and ran them both up. They forgot silver, but silver usually lags behind gold in price fluctuations.
Gold is up about 11% this year, Silver over 9% in the last three months. In the Wild West that is Bitcoin is up over 140% this year and has seen huge swings in both directions in the last few months. Bitcoin has shown some drastic volatility over the last two weeks including a $3000 drop-in about a minute. Silver should be slightly more protected than gold amid dollar strength because of its variety of industrial uses and fewer ties to interest rates. And if the precious metal can indeed head higher, one shouldn’t be opposed to trading it.

So where does this leave the average investor? Gold has been a store of wealth for thousands of years and is unlikely to stop being so anytime soon. Silver has a less stellar track record but also has been used as a store of wealth and currency for a very long time. If you’re looking for more of a “sure thing” gold or silver was decent bets. Of course, do your own homework before you invest. Past performance does not always indicate futures results, but it normally provides pretty good clues.

Bitcoin, if you can buckle your seatbelt and prepare for a wild ride, is worth looking at too. That said, definitely, don’t invest anything you can’t afford to lose. That’s generally true for investing, and doubly true for something as volatile as Bitcoins or other token coins.

We at Ascension Credit Services specialize in helping our clients navigate the world of complicated financial tools including lowering debt, and optimizing investing strategies. For more info contact us at (214) 810-2733.