Silver Price Rise to Record Highs
Silver, the less popular of precious metals, is experiencing a remarkable resurgence, breaking a four-decade-old price record to hit $53 per ounce.
The current rise is due to increased demand for silver as both an industrial metal and a traditional safe-haven asset. About 60% of silver's use originates from industrial applications, such as green energy and advanced technology telecommunication.
Unlike gold, which is primarily driven by investment demand, silver's gains have been far bigger, making it an attractive option for investors.
Silver’s gains have been far bigger than gold’s, which were already outstanding.
- 60% of silver's use is for industrial applications
- Silver is also a traditional safe-haven asset
- Increased demand is driven by the move towards green energy and advanced technology
Author's summary: Silver price hits record high due to industrial demand.
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