In the long-term it is sometimes a wise decision to buy gold and sometimes to exchange it for silver.
As a rule, during a bull market in precious metals silver outperforms gold. On the other hand, during a bear market in the PM sector gold outperforms silver.
The chart below documents the best long-term opportunities to initiate a position in gold or silver:
For example, buying silver in May 2003 and selling it in November 2006 would have meant a profit of 200%. Then, buying gold in November 2006 and selling it in November 2008 would have brought you a profit of 27% etc.
What the chart is saying now? It looks like it is time to have silver.