Circumstances outside your control might someday cause the value of...
“Hello, my precioussssss.” Due to their scarcity and, for some, their beauty, precious metals have been highly desirable and considered quite valuable by many cultures for millennia. Those of us who enjoy living a prepared lifestyle may opt to keep precious metals because these commodities traditionally hold their value and are trusted after financial institutions fail. After an economic collapse, a nation’s currency might be worthless, but a metal such as gold will still be sought after.
The truth is the value of precious metals isn’t fixed — it fluctuates according to the mood of the economy as well as other outside factors. Everything from a weak economy, conflicts between countries, and even natural disasters can affect their worth. Let’s take a look at the values of two prominent precious metals — silver and gold — during economic crises of the past four decades. We’re not economics professors, but the correlation would be evident even to Gollum.
*Note: Prices not adjusted for inflation.