Let's analyze the potential returns from investing $2,500 in gold, silver, or a savings account over a one-week period from August 13, 2024, to August 22, 2024. We'll calculate the returns based on changes in spot prices for gold and silver, and the interest from a savings account.
Given: On 8.13.24 the spot price for an ounce of gold was $2,467.22; Silver was $27.71. Saving Account was .46%. On 8.22.24 the spot price for gold was $2,528.22; Silver was $29.65.
Comparison of ROI for one week.
- Gold: $60.71
- Silver: $175.91
- Savings Account: $0.22
Conclusion:
Investing in silver provided the highest return over the one-week period, yielding a return of $175.91. Gold provided a modest return of $60.71, while the savings account had a negligible increase of $0.22. Therefore, for this particular week, silver was the most profitable investment among the three options.
10. #InvestSmart
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