GOLD vs. SILVER – Which is the Best Investment?

Money In The Bank?

A friend of mine called me a few days back and asked me about investing in gold. He told me that he had a lot of money in his bank account and that he thought it wasn’t safe given what’s happening with banks in the US and Europe. He asked me if I thought it would be a good idea to invest in gold, which he thought would be a safe haven for his money and protect it from a potential bank crisis. This is the reason why I am writing this post because I think that maybe more of us have this problem of having too much money in your account and may be thinking about investing in gold or other safe havens. So, let’s have a look at gold.

Gold
Currently, gold is at its all-time high, but this may not be the best time to buy gold, as the potential for growth is limited. The price of gold is rising because it is considered a safe haven, so investors buy gold when markets are uncertain. However, this has driven gold to its historical highs, and it may not be a good idea to invest in gold right now. If you want to invest in gold, maybe you should wait for prices to dip.

To identify the perfect place to invest in anything, most ivestors use the volume profile, and in this case, we can use the volume profile to identify an ideal place to invest in gold. The right place to invest in gold is in a volume zone located in the area where the price rejected lower prices and moved upwards. It may seem like a small volume zone, but it is actually a strong zone on a weekly chart, located at 1675. This is a very strong support, and when the price hits this support level, it is very likely that it will start to move upwards again.

For anyone buying gold, it is important to buy physical gold, not paper gold. It’s of paramount importance to hold the physical gold in your hands and keep it close at hand and somewhere safe. If there is a crisis, the supply of physical gold and paper gold will be different, so it’s crucial to get the real thing.

Silver
Let’s not forget another investment option that is not at its historical high is silver. If you compare the chart of silver and gold, you will see that silver is at its historical highs, but there are two good supports that I found using the volume profile, which represent a good place for an investment. These supports are located at 17.20 and 15.50, which are very strong price zones, and the price is likely to react there. If you want to invest in silver and don’t want to miss an opportunity, you can split your investment and wait for the price to drop to invest the second half.

Once again, it’s important, as it is in gold, to get physical silver, not paper silver. Investing in safe havens like gold and silver, you always want to get the real thing you can hold in your hands. That’s my take on gold and silver, and I hope this short post helps you decide that gold and silver are the best alternatives to “money”.

Inreality it’s probably better to consider buying both Gold and Silver as we need to take good care of our finances and investments because right now, with the recent issues around failing banks, high inflation and the failure of paper “currency” (money) it’s very important. Thank you for reading, and I’ll look forward to posting again soon. Remember paper (FIAT) currency is not real money but precious metals are!