Some precious metals experts believe that silver can and will reach $20 to $25 per ounce in the foreseeable future. Just like gold’s meteoric rise, silver may be in for a sudden rise. Silver mines cannot keep up with the demand, and the threat of silver mine strikes loom. This makes silver an exciting prospect right now.

It has been argued that in terms of currency, silver offers the same kind of safe haven advantages as gold, just in a slightly different way. In an emergency or doomsday scenario, precious metals can be liquidated and can operate as real cash. A bar of gold would be ideal for large purchases, while silver is more practical for smaller purchases. Think of silver as your change and gold as your big bills in case of a global economic disaster.

When central banks choose to invest in gold, they often choose silver at the same time. Central banks are getting away from the dollar for reserves and are putting their money into precious metals. This is just another example of how often gold and silver are inextricably linked. Silver is seen as a sort of hedge against gold, and vice versa, because silver has more industrial uses. For portfolio purposes, silver and gold together act as a hedge against inflation.