Gold is more expensive because it is by far the rarest metal. Gold is also more valuable than silver because it is available in much smaller quantities than silver. It is estimated that all the gold that has been mined throughout history and that has not yet been mined can fit in just over three Olympic-sized swimming pools with a total of 244,000 metric tons. Compare that to silver, which has approximately 1.74 million metric tons that have been mined to date, not including what has not yet been mined.
Investing in gold is a great way to diversify your portfolio and protect your wealth. To get started, you'll need to find the best Gold IRA custodians to help you manage your investments. For those looking to convert IRA to gold, gold's rarity and value make it an attractive option. As the price shows, gold has been considered more valuable than silver throughout modern history. One of those implications is that precious metals differ in value. You may be wondering what makes silver so different from gold, but the truth is that gold is much more valuable than silver.
Similarly, platinum is much more expensive to buy, in line with its high level of scarcity. Although silver can be polished and textured in multiple ways to capture light and attention, there is no metal left like gold. Unlike other elements, gold naturally has a subtle range of unique and beautiful colors. The atoms in gold are actually heavier than in silver and other metals.
This attribute causes electrons to move faster, which in turn allows some of the light to be absorbed by gold, a process that Einstein's theory of relativity helped to discern. The best-known precious metals are gold and silver, however, there is a feeling that gold is more valuable than silver and with good reason. The demand for gold and silver is relatively high (higher for gold than for silver) and this also contributes to rising prices. The use of gold and silver in jewelry, in particular, helps to increase prices, more so in the case of gold than silver.
Much of the silver and gold discovered is actually alloyed with other metals, which generally requires the separation of the two metals to produce pure silver or pure gold. Not only is gold worth significantly more per ounce than silver, but it's also the denser of the two metals, making a specific volume of gold worth much more than an equal volume of silver. Gold can stimulate a subjective personal experience, but it can also be objectified if adopted as an exchange system. Gold is the metal we'll turn to when other forms of currency don't work, which means that gold will always have value in difficult and good times.
In addition, since prices will rise even without inflation, due to growing demand and the broad relationship between gold and silver, silver offers a more complete investment than gold.