Anyone else thinking industrial demand will tank our silver?

Patricia Miller

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Anyone else thinking industrial demand will tank our silver?

patricia_miller📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I know this is a Gold IRA forum, but I've got a decent chunk of my retirement in silver too, probably around $30k worth.
•I bought a lot of it a few months back when everything was still looking pretty rosy.
•Now, I'm starting to get a little nervous about the industrial side of things.

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I know this is a Gold IRA forum, but I've got a decent chunk of my retirement in silver too, probably around $30k worth. I bought a lot of it a few months back when everything was still looking pretty rosy. Now, I'm starting to get a little nervous about the industrial side of things. Everyone's talking about the clean energy transition needing tons of silver, and that's what sold me on it initially for sure.

The problem is, I'm a small business owner here in Denver, and I see how quickly things can shift. Right now, it feels like a lot of industries are slowing down or at least being cautious. If there's a significant global recession, or if the push for renewables slows down for whatever reason, that industrial demand for silver could really take a hit. Are we over-estimating how much industrial need is actually baked into the current price?

I mean, my gold's feeling pretty stable, which is what I expect, but the silver is the one that's giving me some anxiety. This whole Gold IRA thing is new to me – I only set it up about a year ago, wanting to diversify away from just stocks. Now I'm wondering if I should have stuck purely to gold with the silver as a smaller percentage. What are you seasoned investors thinking about the industrial demand for silver in the next 1-2 years? Any insights or data I might be missing?

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11 comments

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Best Answer▲ 15 upvotes

donald_nelson💎Premium (500k-1m)

This is exactly the kind of discussion I was looking for. Very informative!

Comments (11)

robert_thompson💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

Hey, I hear ya on the silver. I'm in a similar boat, though not quite $30k deep.

You mentioned you bought a "lot of it a few months back when everything was still looking pretty rosy." What specifically changed in your view that's making you worry about industrial demand now? Was there a particular news story or economic indicator that shifted your perspective?

susan_clark💰Established (100-250k)Real Investor•about 2 months ago

Totally get where you're coming from. I went pretty heavy into silver a while back too, thinking it was a no-brainer. Now with all the chatter about manufacturing slowing down, I'm definitely watching my portfolio a bit closer than I anticipated. Not panicking, but definitely not as confident as I was either. Hopefully it's just a temporary dip!

janet_cook📊Growing (50-100k)•about 2 months ago

Hey OP, I get the concern, especially with how things are looking right now. But "tank our silver" might be a bit strong. Industrial demand is definitely a factor for silver, no doubt, but it's not the *only* factor. Silver also has that monetary metal appeal, especially as a safe haven when things get rocky. Plus, the investment demand side could pick up if people start looking for alternatives to traditional assets. It's not all doom and gloom on the industrial front, even if there's a slowdown.