Silver will be the best investment during the next ten years, says the National Inflation Association, an organization that looks for ways to prosper when inflation rises.
Currencies will weaken during the coming decade and while gold, which rises amid a weakening dollar, remains largely in bank vaults, 95 percent of the world's silver is consumed by industries in amounts so small that it cannot be recycled and therefore, re-introduced into the market.
Furthermore, market conditions have kept silver prices “artificially” low, which makes the metal ripe for buying, especially on the association's belief that coming inflation will make paper currencies bad investments.
“The most important thing you need to know entering 2010 is that silver is the single best investment for the next decade. In our opinion, investing into silver is the only sure way to tremendously increase your purchasing power over the next ten years,” the association said.
Even investment guru Jim Rogers says silver is a better investment than gold, considered a hot commodity these days.
Silver is 70 percent off its all-time high while gold was still near its all-time high.
“I'd rather own silver than gold,” says Rogers.
Gold prices have shot above $1,140 per ounce but have been falling lately, although Rogers says gold is still a good buy.
“If gold goes to $1,000 (per ounce) — or pick a number — I hope that I'm smart enough to buy more,” Rogers told CNBC.
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