Silver

Silver can serve as a hedge against inflation and as a store of value during an economic downturn, but it does not do so to the same degree as gold. This is because while silver is a financial asset, it is also an industrial metal. Its heavy industrial usage makes it more closely tied to the global economy, causing it to be more prone to price volatility and more likely to decline in value when demand drops off due to a slowing economy. Indeed, the gold-silver ratio (how many ounces of silver can be bought with an ounce of gold) has historically been high during times of economic crisis and market recession.

Holdings in precious metals like silver are generally subject to capital gains tax. As far as what rate applies, the IRS classifies silver as collectibles, meaning the collectibles capital gains tax rate of up to 28% may apply to both physical silver holdings and silver ETFs. However, this would only apply if you sold your silver holdings at a gain, with the rate also depending on how long the asset was held, among other factors.