Finding current gold and silver prices is an important part of investing. Gold and silver become safe havens in times where the market is controlled by fear and pessimism. Different sectors of the market do well in different climates. As a result, you don’t need to be afraid of bear markets; especially if you know how to trade in any market. Gold and silver have always been valuable. However, they can be volatile. It’s important to learn how to trade them properly.
How to Find Gold and Silver Prices
- Here’s how to find gold and silver prices:
- JM Bullion
When you’re looking for gold and silver prices, you want to make sure you find websites that give you good information. There are different ways to invest in gold and silver.
You can buy physical gold and silver or trade stocks and ETFs. Many times people who trade gold and silver also buy physical gold and silver. There’s no right or wrong way to invest in precious metals. It’s all about what works best for you.
Gold and silver prices run with inflation. Which is the opposite of what stocks do. Hence why they’re seen as a safe haven in lean times. Gold and silver prices can’t be inflated because they’re mined whereas the dollar is printed.
Websites like Monex show you current prices, how much they’re up or down and allow you to buy and sell right on their website. So if you want to buy or sell physical precious metals, it’s all right there for you.
Not only do they have a website, they have an app for your smartphone as well. That app is incredible for stocks and ETFs for precious metals.
They show changes and news as to why those changes may be occurring. They can be used for more than just gold and silver prices. Information on stocks can be found as well.
Investing in Gold
Gold is a popular ETF to invest in. It doesn’t corrode or rust. As a result, companies have many different uses for gold. This means there will always be a demand for it.
It also has the ability to conduct electricity as well as heat. In essence, it has many practical uses as well as being the most popular precious metal to invest in. A stock’s price movement rely on supply and demand. Gold doesn’t follow that line of thinking. Instead, price movement is prone to sentiment. A change in sentiment changes how it trades.
Hence why gold is typically a safe haven in a bear market. Investing in a bear market can be difficult, especially long term. Having precious metals in your portfolio helps offset losses.
Gold brings security when the dollar or banks are struggling. If there are threats of war, then gold tends to soar. Hence why gold and silver prices matter.
Investing in Silver
Silver moves a little differently than gold does. The silver market is smaller than the gold market. As a result, silver is more volatile to trade. It usually has a perceived value because it’s an industrial metal.
That means it’s more open to volatility. That can be a good thing. Especially if you want to trade it in both bull and bear markets. Because silver is an industrial metal, any new innovation using silver can cause price to fluctuate.
This can make silver more of a trading option no matter how the market is trading. However, gold and silver prices will always follow trends and patterns along with market sentiment.
Bear Market Gold and Silver Prices
Gold and silver prices tend to do well in bearish markets. However, if you know how to trade options, you can make money in any market. Take our options trading course to learn the different strategies for making money.
Stock training is such an important part of trading the stock market. Candlesticks are the name of the game. Not only do they provide key support and resistance, but grouping them together forms patterns.
There are two categories of patterns; continuation and reversal. Patterns aren’t a crystal ball into the future because they do break down at times. However, they do provide a much clearer picture than just placing trades without looking for them. Knowing how to read patterns can change the way you were going to trade. FOMO (fear of missing out) is real. Even for experienced traders. When you see a stock flying, you want to get in on the action.
However, knowing patterns along with support and resistance should keep you from making a bad trade on FOMO. No matter what gold and silver prices are doing, always trade the patterns. Check out our gold stocks list for more info.