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Gold $1274.1 -2.6
Silver $16.34 0
Talk to a representative: 855-242-4121

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Global Banking Leaders Project a Strong 2018 for Silver

Is 2018 going to be a banner year for silver? A growing number of influential names in the investment banking and securities industries say “Yes, indeed!”

Although silver has long been a favored asset of those seeking refuge when conditions worsen for equities, the metal’s numerous industrial applications make it a potentially valuable investment during periods of economic prosperity, as well. Specifically, it is silver’s properties as a premium conductor of heat and electricity that uniquely distinguish it from other precious metals, in terms of industrial utility.

While global business growth in recent years has yet to yield the spike in silver prices many have been anticipating, things may finally be changing. In fact, as noted in a recent article at the website Business Standard, several high-profile banks and securities firms are now going on the record with their predictions that 2018 will usher in a level of worldwide demand for silver that’s sure to drive prices significantly higher.

Goldman Sachs: Look at Silver in 2018

According to the financial news site, Goldman Sachs has recently issued an opinion on silver in which it says, in part, “Typically, silver tends to outperform gold at the current state of the business cycle, as it is more strongly leveraged to global growth, given its significant industry use. However, the relationship broke down post-2011, as price induced silver industrial demand to diverge from the growth of the business cycle.

“Now, we are finally beginning to see evidence of silver industrial demand picking up with strong global growth. Therefore, strong global growth should lead silver to outperform gold, as it has in the next expansion phase.”

Other notable banking institutions, including Bank of America Merrill Lynch, echoed Goldman’s assessment, with the Bank of Nova Scotia noting in its latest report that silver is now exhibiting genuinely bullish momentum.

Jayant Manglik, president of India-based Religare Securities, is particularly optimistic about silver’s prospects in 2018, declaring, “Silver prices are likely to move up by 17-20 per cent in CY18 due to rising industrial demand. Since global industrial growth is looking to remain extremely positive, we believe the silver consumption to go up this year. This gives us reason to believe that silver prices would move up from here.” India can be considered a bellwether, of sorts, for the anticipated strength of silver demand as a country, given its longstanding affinity for silver fabrication products and status as one of the world’s emerging industrial powers. According to Bloomberg, silver imports in India have been drastically climbing since 2016, when the country brought in 3,000 tons of the metal. Last year, India imported an estimated 5,500 tons of silver, and 2018 levels are expected to go even higher.

Embracing a Resurgent Silver

So, is 2018 really going to be the year of silver?

Let’s put it this way: It certainly looks as though 2018 may be a better year for silver than we’ve seen recently. Should that prove to be the case, are you appropriately positioned to take advantage of the opportunity?

If you’re looking at your holdings right now and you see stocks, maybe a little cryptocurrency, but no silver, then you might want to reconsider how you’re presently situated. According to some analysts, both silver and gold could fare considerably better in 2018, with silver of particular interest because of the higher industrial demand expected for the metal this year.

To learn more about acquiring physical silver to help effectively diversify your portfolio and capitalize on what could prove to be an exciting year for silver’s price action, I encourage you to give Augusta Precious Metals a call at 855-242-4121. A greatly-improved market for silver investments has been predicted for 2018, as the metal is now poised to make an exciting run.

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.