The recent boom in silver prices has started to attract the attention of many. As of October 2021, the price of this precious metal was $22.37. That is a 44.3% increase from last year whereas the gold price has risen by 6.4%.
Also, silver acts as a suitable investment alternative during inflation. This metal acts as a physical asset with intrinsic value, unlike national currencies. Moreover, the cost of silver is significantly lower than gold's and it creates more affordable opportunities to invest.
Giancarlo Camerana, a strategic advisor at QORE Switzerland suggests that you should choose silver if you can handle risk well. Silver prices are more volatile and less liquid than gold. He further adds to the aforementioned argument that silver is more suitable for industrial uses. Investor demand currently represents just 15% of the market.
Television
Printed circuit boards
Telephone
Microwave ovens
Children’s toys
Computer keyboards
Producers use circuit boards everywhere from mobile phones to computers and even the development of 5g technology. The demand for silver continues to grow as consumer electronics evolve.
Global population growth increases the required amount of energy resources. Silver plays an important role in renewable energy production. Wind turbines and solar panels use silver for reliability and long-term performance.
How do engineers utilize silver for solar cells? They turn the silver powder into a paste and load it onto a silicon wafer. When sunlight hits the silicon electrons set free and the material is needed to transport the energy.
That is why industries believe that this metal is the world’s best conductor. Silver alerts the electricity and carries it to batteries to store it for later consumption.
Pharmacists use silver for bandages and ointments as it effectively deals with bacteria and heals the body faster. These products release a steady amount of silver to the wound and have antibacterial features. It mitigates the inflammation well in wounds like exudate, acute and chronic wounds, burns, surgical wounds, diabetic foot ulcers, pressure ulcers, and leg ulcers.
Silver also effectively exterminates some bacteria that become resistant to antibiotics. Scientists recently discovered that this metal effectively penetrates the cell walls of bacteria. After silver breaches, it safely destroys chemicals and bonds that sustain the life of bacteria.
During the past centuries, there were a number of artists that turned silver into works of art. Paul Revere was a notorious American Revolutionist that was a silversmith by trade. Today some of his artwork is still on display at the Boston Museum of Fine Arts.
Mirrors and glass: many modern buildings use a transparent silver coating. This material helps to reflect the sunlight and maintains the cool temperature of the interior.
Engines: silver electroplates are the strongest bearing of the engine. Silver’s high melting point lets it withstand the high temperatures of the engine.
Uses in awards: Olympic Silver Medal represents the iconic award for the second-place. Different organizations, employers, clubs use silver-colored awards to honor respected individuals.
Silver in Photography: traditional photography devices usually rely on silver-based imaging. Silver halide in photographic film responds to light and helps to switch from the latent image.
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