AUSTIN, Texas, July 14, 2022 /PRNewswire/ — At U.S. Money Reserve, we know why silver remains one of the most versatile precious metals in the world, with a host of uses. Silver's surprising utility allows the metal to function in medicine, solar technology, electronics and more. As supply chains continue to recover and normalize, silver demand could benefit.
The Silver Institute projects global silver demand will reach a record high of 1.112 billion ounces in 2022.
Here are six uses for silver that could boost silver demand in 2022.
- Cars: Millions of ounces of silver are used each year in auto manufacturing. Every electrical connection in a modern car is activated with silver coated contact.
- Solar Technology: In the making of solar cells, silver powder is turned into a paste that's loaded into a silicon wafer. When light strikes, the Silicon electrons are set free, and the silver carries the electricity. Silver is such an important component that increases in demand for solar panels can cause silver prices to spike.
- Medicine: Silver's antibacterial properties have made it a key component in medical technology. Bandages and ointments frequently include silver to ward off bacteria, and healthcare facilities use silver embedded equipment and supplies to battle antibiotic resistant bacteria.
- Electronics: Silver shows up in almost every electronic device. The electric conductivity of silver makes it ideal for TV screens, computer chips, printed circuit boards, and a whole host of other electronic products.
- Jewelry: Creators of jewelry have turned to Sterling silver when crafting pieces like bracelets, earrings, and necklaces for centuries. The practice continues widely today in cultures across the world.
- Wealth Protection: Silver bars and coins are popular among precious metals buyers. In fact, because of its lower price, silver is more available to a greater number of people who choose to keep physical silver to diversify their portfolios.Watch the video below to learn more fascinating uses for silver.
U.S Money Reserve's Chief Procurement Officer and Master Numismatist John Rothans has analyzed the silver market and has offered his own insights into why silver demand may continue to grow and could be a beneficial metal to own.
SOURCE US MONEY RESERVE
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