The price of gold has seen substantial growth over the period of 12 months from Autumn 2018 to Autumn 2019. However, how have other commodities such as silver fared?
Silver has seemed to have had a different year to gold. Silver on the 23rd of September 2018 cost $14.63 per ounce compared to gold’s $1,190 per ounce. Unlike gold, the price of silver decreased for a period. Where gold increased by 8% to cost $1,266 per ounce, silver fared differently. Gold saw a steady growth over the 8 months from September 2018 to May 2019. Silver on the other hand did not. The price of silver actually decreased to $14.28 at the end of May 2019.
However, silver may be starting to pick up the pieces now. Despite a continuous decrease in price since 2016 silver is now becoming more expensive, albeit slowly. If the price of silver continues to increase it could cause your jewellery and watches to be underinsured meaning that you may not receive a full pay-out from your insurer should something happen to your jewellery or watches.
At Ascend executive we can arrange for a professional valuation on your expensive watches and jewellery to avoid them being underinsured so you receive a full pay-out. Our team of specialists are on hand to make sure that you receive the best policy that covers you and your possessions.
