Out of all the commodities, it is Silver and Gold that have turned out to be the most profitable and reliable investments in the on-going year. Even when the entire world’s economy was hard struck by the Pandemic, these two instruments emerged as the best investment. Now, with the Pandemic almost gone, the world’s economy has started to regain its pace but currencies such as Dollar didn’t seem to have taken much of an impact from the pandemic either and it was all because of the contribution from Silver and Gold.
When the pandemic struck, resulting in mass lockdowns and curfews, many people had lost their jobs and resorted to the only source of income that proved itself to be the most feasible out of all, which was trading. Now when the situation is getting back to normal, the people who had become Gold traders for a short-term have started selling it, which has broken the streak of an upward trend that the Gold prices were constantly experiencing.
In mid-July, the prices of Gold were hovering around $1800/oz and in a matter of 3 weeks, the prices of Gold escalated to $2050/oz with a shocking increase of $250/oz. On the other hand, Silver has also shown a significant increase in its value as it saw a 50% increase in its price.
In the current year, both these commodities have performed so well that even the Index (Nasdaq) hasn’t been able to keep up with these two.
Now that the pandemic is over and the things are getting back to normal, it is speculated that the prices of Gold and Silver would see a drop as both the commodities will now experience price correction after seeing a constant uptrend.
In the state of pandemic, there were many unemployed people who resorted to the online trading platform, commodity trading in particular and after seeing such a promising outcome/turnover from investments in these two commodities, these short-term investors are expected to stick to the online commodity trading platform, which would in turn stabilize the price of Gold and Silver, and in the coming years, bring in more investment that would result in the gold and silver prices to see an all time high.