Post
Topic
Board Economics
Re: Silver is loosing ground due to rise of cryptocurrencies
by
Ng93
on 29/07/2018, 14:44:20 UTC
In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

I don't think the price of silver is affected by cryptocurrency. Connoisseurs of precious metals, as there were reasons to buy silver, so they buy. Personally, I know many people aged, they do not believe in cryptocurrency, they only believe in gold and silver. They tell me it's the most valuable asset for centuries.