Silver ranks right up there with gold as one of the most reliable types of bullion you can invest in. Plus, it’s often considered a safe investment because silver prices tend to be fairly stable, especially if gold is also doing well. If you’re weighing your options for 2021 and considering investing in silver as part of your strategy, make sure to work with a reputable precious metals dealer, such as First National Bullion. Carlsbad collectors should take the following information into account when deciding whether to buy silver bullion this year.

Silver in 2020

Before discussing 2021, let’s look at how silver performed in 2020. It was actually a mixed year for silver bullion. Overall, silver saw its lowest prices in more than a decade in 2020, dipping down to nearly $12 per ounce in early spring. However, silver recovered later in the year. In fact, by August, silver hit a seven-year high of $30 per ounce. It has since leveled off to the mid-20s range. According to the APMEX price chart, it’s still within this range as of early 2021.

Silver in 2021

It’s too early to know for sure how silver will perform throughout 2021. As mentioned above, it’s currently holding steady at a decent per-ounce rate. This definitely bodes well for the silver market as we get into the new year. Young Upstarts agrees with this assertion, noting that experts believe, as of early 2021, silver’s future is a positive one heading forward into this year.

Possible Price Spikes in 2021

The independent precious metals research group Metals Focus also expects silver to be on the rise in 2021. The precious metals organization goes further and predicts prices to exceed $30 per ounce at some point this year. But some other industry experts are saying silver could have some volatility in 2021. This is due in part to the fact that precious metal prices are affected to some extent by economic situations in various global markets.

Reasons for Cautious Optimism

Because of some unknowns with economic factors, the general consensus about silver investments, based on what’s being reported by the various sources already referenced, is to be cautiously optimistic. In other words, start off on the low or moderate side with your silver investments. Once you get a better feel for the market as 2021 advances, you can always adjust your investment strategy. A financial advisor or similar investment professional can give you additional advice specific to your needs, goals, and budget.

How to Purchase Silver in 2021

There are many ways to buy silver bullion. One way is through online exchanges. Another option is a precious metals firm. The benefit with this option is being able to have more control over the quality of the silver bullion. Also, reputable precious metals firms typically charge the current market price plus a reasonable markup. And you could make up this difference if you invest wisely or hold on to your silver until prices rise. 

When they’re looking for the best place to buy silver bars, Carlsbad precious metals collectors reach out to the trustworthy professionals at First National Bullion. We can answer all your questions and help you find all the information you need on how precious metals can be a valuable part of your investment portfolio. Give one of our experienced dealers a call today at 760-253-8072.

The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.