Will the Coronavirus Increase Demand for Silver and Cause Trading Prices to Soar?
As we write today’s post, we are in the midst of a near-epidemic of fear about the Coronavirus.
And this epidemic of fear is more troubling than earlier ones we remember, like the one that preceded the start of the year 2000. Why? Because unlike that false crisis, when conspiracy theorists were predicting that world currencies would crash, that airplanes would fall from the sky and that all the world’s computers would freeze, today’s crisis is based on bad things that are actually happening in the world.
People aren’t guessing that people will become ill from this virus because people are already becoming ill. People aren’t theorizing that the stock market will fall, because that’s actually happening.
Let’s face it. This is not a theoretical threat; it is a real one. And that makes it different from some of the crises we have all survived in the past.
But one similarity between this crisis and previous ones is that unscrupulous companies are offering products and remedies that they promise will protect us from danger. Some of these purported remedies and protections seem to be reality-based. For example, yesterday we got an email newsletter that suggested we should all be taking increased quantities of buffered vitamin C, which that email was also offering to sell us. Okay, that at least seems to have some basis in reality. Vitamin C might not absolutely keep people from getting ill from a virus, but at the very least, taking it won’t do anyone much harm.
What about Colloidal Silver Remedies?
But along with the offers of vitamin C, we also got an offer to buy something called Colloidal Silver formulations that were said to offer protection from contracting the Coronavirus. Colloidal silver remedies, if you are not familiar with them, are made by suspending small silver chips in jelly-like colloidal liquids that people can swallow or mix with beverages and foods before ingesting them. These purported remedies have been around for a very long time.
But do they actually protect people from any known diseases? According to one highly credible, authoritative source, they do not. To quote from information published by The Mayo Clinic online . . .
“Colloidal silver isn't considered safe or effective for any of the health claims manufacturers make. Silver has no known purpose in the body. Nor is it an essential mineral, as some sellers of silver products claim . . . Manufacturers of colloidal silver products often claim that they are cure-alls, boosting your immune system, fighting bacteria and viruses, and treating cancer, HIV/AIDS, shingles, herpes, eye ailments and prostatitis.
“However, no sound scientific studies to evaluate these health claims have been published in reputable medical journals. In fact, the Food and Drug Administration has taken action against some manufacturers of colloidal silver products for making unproven health claims.”
Source: “My dad takes colloidal silver for his health, but is it safe?” by Brent A. Bauer, M.D., writing in Mayo Clinic Consumer Health newsletter.
What about Investing in Silver Scrap and Making a Fortune?
We wish we could tell you that you should go buy up all the silver scrap you can find today and hold onto it, because its value is about to skyrocket. But we are afraid that we can’t tell you that, because it is extremely unlikely that the current Coronavirus scare is going to cause silver prices to soar.
Nor can we tell you that the current scare will cause the prices of gold, platinum, palladium and other precious metals to go up. But unfortunately, those precious metals are not about to be used in miracle medicines that will be used to end the virus crisis either.
But even though the virus will probably not have much of an effect on the demand for precious metals or on their trading prices, we also have to say that . . .
This is still a great time to invest in precious metal scrap of all kinds and have us test and recycle it for you
Long after the current scare has come and gone, investing in precious metals will still be a wise investment strategy. Want to learn more about buying and profiting from precious metals? Call our investment advisors today at 800-426-2344.