Quick summary
| Trait | Gold | Silver |
|---|---|---|
| Volatility | Low | High |
| Liquidity | Very high | High |
| Industrial demand | Limited | Significant |
| Historical gold/silver ratio | 15:1 (20th c.) → 80:1 (today) | — |
Gold: the classic hedge
Gold preserves value over the long run and shines during uncertainty. Industrial demand is marginal — most of it is stored as reserve. For conservative investors with a 10+ year horizon, physical gold (Maple Leaf, American Eagle, Britannia) is the most stable building block.
Silver: cyclical opportunity
Silver combines monetary + industrial uses (electronics, solar panels). More volatile but higher upside during technological transition cycles.
Recommendation
- 70/30 gold/silver for a defensive portfolio.
- 40/60 gold/silver to ride cycles.
- Diversify by format: bullion coins + small bars + a numismatic piece with revaluation potential.