New Pacific Metals Corp from Vancouver, BC recently did a diagram that outlined how silver performs. The benefits, uses, and characteristics of silver were discussed. This could be the seventh silver bull market since 1970. Silver has always had intrinsic value in human history and it continues to provide security in volatile financial markets. Silver is more than just a precious metal, it is a critical industrial metal for modern technology and medicine. Other aspects of that diagram are discussed below.
Silver is used in electronics
Silver has the highest electrical and thermal conductivity of all metals. Silver is used in contact and membrane switches seen in room lights, smartphones, laptops, and cars. Silver is used in household appliances to improve efficiency in televisions, LEDs, microwaves, and refrigerators.
Silver is used in healthcare
During the bubonic plague, families that used silver utensils were more likely to survive. Silver coins were dropped in milk to preserve it longer. Silver provides antimicrobial action against yeasts, molds, and bacteria. Silver can be used for catheters, prosthetic heart valves, and other important devices. Silver can kill 99.9% of pathogens in water. Silver can treat wounds and infections. Silver nanoparticles are used in eye drops to treat infections. Fabrics with nanoparticles of silver can kill bacteria.
Silver in renewable energy
Silver is a key ingredient in solar energy. The silver paste in photovoltaic cells converts thermal energy from the sun to an electric current. The average solar panel uses 20g of silver. In 2019 alone, 100M oz of silver was used for photovoltaics.
Silver’s history shows its value as an investment, but its practical use dominates silver’s demand. These practical uses include photovoltaics, photography, jewelry, and silverware. 70% of the silver mined is still for industrial uses and physical investment. Midas Gold Group assists investors on a daily basis regarding physical investment. Silver bars and coins are readily available for home delivery, an old 401(k), or an IRA transfer. Silver has gone up over 40% in the last year and is barely pulling back from recent highs. Silver has outperformed gold in five of the last six bull markets. We shall see what happens this time. If demand precedes price, silver is far from done. As its industrial and technological applications continue to grow, silver remains a safe-haven investment from political uncertainty and economic distress. Silver is also a cheaper alternative to gold.
As gold hovers near its 2011 high price, silver still trades nearly 40% below its 2011 high price, making it still historically cheap relative to gold. When seeking alternatives to paper investments, people should still consider silver when adding to or making a precious metals purchase.
Call Midas Gold Group at 480-360-3000 or 805-601-6000 and schedule a portfolio review today. While we are not financial advisors, we are trusted gold and silver specialists. Call Midas Gold Group today at 480-360-3000 or 805-601-6000 and speak to the nation’s #1 veteran-owned gold dealer. We do business in all 50 states and always use insured delivery.