The Royal Canadian Mint has devised a new set of coins to celebrate the 150th birthday of Canada. On this special event, the mint has decided to release several collector coins in2017. Among the latest coins is the 2017 Proof Silver Dollar, 2017 Classic Canadian Coin set, 2017 Fine Silver Coin (Maple Leaves and Grizzly Bear), and the 2017 set of $10 Fine Silver Coin.
Excited with the news? Planning to buy silver? Here are a few reasons why investing in silver can be profitable in 2017:-
1. Supply of silver in China
The Shanghai Stock Exchange gives a better reflection of what is happening out there in the precious metals industry. Silver inventory has seen a major fall since 2013. When the supply has been depleted, due to demand by major economies, silver metal will see an increased value in stock markets.
Also, with the launch of China’s “One Belt One Road” project in 2014, the country had started stacking up on base metals to produce the largest infrastructure in the world. This had led to a depletion of silver reserves in China and started pushing demand for silver higher.
2. Trump Presidency
Silver has shown potential of 6.5% gain in 2017 by the end of 2016. Next in line, with Trump and the Republicans presiding over the White House; the Senate and the House of Representatives making the calls; Wall Street clearly sees silver rising in 2017. Trump’s “reflationary economic policies” has potential to drive up the cost of silver on a relative and long-term basis. In fact, the silver market will be in physical deficit noting an annual shortfall of 52.2 Moz.
“Gold is one of the few things you should own,” says UK hedge-fund billionaire Crispin Odey.
3. Increasing Industrial Usages of Silver
The recent changes in the political scenario have also sparked the demand for industrial silver. About 70% of silver is destined for industrial applications and other renewable energy products. Industrial usages of silver account for almost half of the silver produced worldwide. Silver today, finds its uses in brazing alloys, solder, dentistry, batteries, LED chips, glass coatings, nuclear reactors, medicine, photovoltaic energy, photography, semiconductors, RFID chips, water purification, touch screens, wood preservatives and numerous other industrial usages. US, Canada, China, India, Japan, South Korea, Germany and Russia have been ranked the top countries with industrial usages for silver.
Gold Stock has a rich inventory of different silver coins and bars produced by the Royal Canadian Mint. If you are looking to invest in some, visit our online store.