Silver maintains its value over the long term and does well when interest rates are low and fixed-income investments don't generate much profit. In this way, silver works like gold in my IRA as an investment and performs a similar function as a safe haven. Consumers have underestimated silver as a long-term investment. With prices at low levels and appreciations expected in the future, investments in silver could surpass gold in my IRA returns in the near future. Based on the trends observed throughout this year, silver is likely to appreciate over time and can be trusted as a long-term investment.
Commodity markets, however unpredictable they may be, are still the preferred option for a wide range of investors, and for them, they are likely to benefit from silver. However, you should consult with your personal financial advisors before making long-term investments in commodities. While silver rates declined by more than 70% over the year, gold rates remained fairly stable, with a fall of around 40%. Since India is the main importer of gold due to its voracious domestic consumption, the switch to silver, even moderately, can boost silver rates.
This means that interest rates on gold could continue to fall, while silver could remain stable at its current rates for the foreseeable future.