Investment in silver products and other precious metals in on the rise. While many have focused on investing in gold products for the past few months—and for good reason—silver is also in the spotlight. The post-Brexit fallout has savvy investors across the globe clamoring to hedge their portfolios with the save havens that gold and silver products provide.
The Appeal of Silver Products
The opportunities for investment in silver are strong and make great sense in the current economy. Just like gold, silver is a currency and a commodity, which boosts its appeal as other currencies weaken. Yet what sets silver apart from other investments is its wide range of industrial and commercial uses. The demand for silver around the world in both developed and developing countries is huge. This brilliant metal is in high demand in every country from the United States, Canada and much of Europe to India, China, Japan, South Korea and Russia. For example, in China, where much of the world’s manufactured goods are produced, the need for silver is great. It’s an essential component of virtually all types of electronic goods, from flat screen televisions and cellphones to computers, tablets, touch screens and circuit boards.
Due to its strength, ductility and malleability, silver is also in high demand in the housewares and fine art industries. It’s critical to consumer photography and graphic arts, and is also essential to the solar industry, which is rapidly growing. Silver is plays an important role in the creation of batteries, LED chips and RFID chips, which are used for tracking shipments across the world. Of course, silver’s brilliance has made it a longstanding favorite in the jewelry industry.
What many are unaware of is the growing use of silver in the medical industry. It has powerful antibacterial properties and therefore is used in many types of products, clothing, medical devices and surgical instruments.