May 2021 Newsletter: Buyer’s Market for Silver and Gold While Bitcoin, XRP & Ether Brace for Mass Adoption

Home » Blog » May 2021 Newsletter: Buyer’s Market for Silver and Gold While Bitcoin, XRP & Ether Brace for Mass Adoption

It's a good time to get in on gold and silver. 

As investment funds pour into Bitcoin and other cryptocurrencies, precious metals are available at a discount. 

At the time of writing, the spot price of gold is hovering around $1,790 per troy ounce. This marks a decline of almost 10% since its closing price on September 1 ($1,971). It's not a coincidence that gold's cool-off has overlapped with crypto's price surge. Retail and institutional investors alike are simply capitalizing on exuberance surrounding Bitcoin.

You might be thinking: In this case, shouldn't I be investing in Bitcoin over precious metals? This would be the case if Bitcoin, gold, and silver were adversarial assets. But they're not. In fact, they're complementary. It's not a matter of having one over the other, but having a balanced distribution of both—because if you like crypto as a sound store of value, you should love gold and silver. 

An increasing number of investors are realizing this, as precious metals bullion have surpassed sales targets in Q1 2021. Perth Mint Bullion, for instance, sold a record 330,000 troy ounces of gold and a whopping 4.5M ounces of silver last quarter. For the quarter, silver prices fell 9.4% and gold fell by 10.6%, which implies that investors have taken the market's price slump as a buying signal. 

The Cryptocurrency Market Rages On In April

Meanwhile, in April, the cryptocurrency market once again proved that the growth we're seeing is nothing like 2017. After falling below $50,000 midway through the month, BTC closed at $57,750 on April 30. We're seeing a degree of resiliency and stability that never characterized previous crypto bull markets. 

Although Bitcoin let off some steam in April, altcoins such as Ethereum (ETH) and Ripple (XRP) broke through critical resistance points. XRP rocketed 118% over a 7-day period, whereas Ether is up 318% year-to-date. Once Bitcoin catches up with the lesser-known coins, it's going to be off to the races for the crypto market. 

Get In Before The Market Heats Up This May

Last year was a great year for cryptocurrency, gold, and silver. Both Bitcoin and gold eclipsed all-time highs, while President Joe Biden's electoral victory signalled a new era in solar energy production which is poised to send silver prices skyrocketing

In today's market, where a handful of mega-cap tech companies dominate the S&P 500, you simply can't trust your wealth in the stock market alone. Exposure to alternative assets is one of the best ways to manage risk and safeguard your retirement savings. 

Get ahead of the market by investing today. Check out our list of the best precious metals IRA companies to add gold, silver, or platinum to your retirement account. For deeper diversification, consider getting in on crypto's latest bull run by opening a Bitcoin or Ethereum IRA today. 

 

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Mark T.
Mark has worked in the investment industry in Chicago and New York for over 15 years. After graduating from Chicago State University with a degree in Finance, he has occupied various management positions at reputable banks and financial institutions, including: Chase, Bank of America, Wachovia, Sterling Trust and Fidelity. His experience has led him to develop a keen understanding of the current economic landscape. For the past 10 years, Mark has been working as an independent investment advisor and has helped many Americans learn how to protect and grow their savings by properly diversifying their portfolios.
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