CanAm Currency Exchange has issued a new report that signals a 34% year-on-year increase in gold sales and an additional 8% in projected purchases for the rest of the year. Widely regarded as a hedge against inflation, the current increase in the sales of precious metals like gold and silver is believed to be directly related to the current economic instability and high inflation rates in the US, according to the latest resource.
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According to the new report, historically, the demand for and price of gold and silver would increase when there is political and economic turmoil as individuals seek a “safe haven” for their assets.
“Gold is a limited resource, with real-world prices that reflect supply and demand,” explained CanAm Currency Exchange CEO Michael Piccioni. The new report explains that since the value of precious metals remains relatively the same, they have historically been a hedge for those who do not want to suffer a significant loss during stock market upsets.
The report also discusses the preference for gold or silver among investors of various levels of experience. According to CanAm Currency Exchange, silver has been a popular option with new investors, as it is cheaper and easier to acquire and store than gold.
“Silver can be bought in the form of silver bars, coins, and rounds. Other methods include silver stocks from companies involved in the mining process or its reselling,” said Piccioni.
With the latest report, CanAm Currency Exchange continues to expand its range of high-quality resources on topics ranging from forex exchange to precious metals and more.
“CanAm Currency Exchange strives to become the most prevalent and preferred currency exchange service in Canada,” said Piccioni. “We offer premium financial services, and foreign currency and bullion product trading to people and businesses everywhere in Canada through virtually any channel, including phone, internet, email, mobile, and at retail locations.”
Interested parties can find more information at https://canamcurrencyexchange.com/is-silver-a-good-investment
CanAm Currency Exchange stated that the report is for informational purposes only, and it does not constitute financial or investment advice.
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COMTEX_424009050/2764/2023-02-07T06:35:02