When you’re engaged in any capacity in the precious metals industry, you will likely praise the virtues of gold including its uses in the personal, commercial and industrial aspects. This doesn’t come as a surprise since gold is the predominant precious metal in modern times, a reputation that stretches back to ancient times.
But there’s another precious metal that investors should pay attention to, if and when they want to rake in the profits from their portfolio of investments. And that metal is – drum roll, please – silver! This is a metal that has been historically undervalued in comparison with gold but this is a shame considering that it’s an industrial workhorse.
Even when its price is low, the demand for silver is still relatively high – and in many cases, it will get even higher. Such high demand is present regardless of which way the economy is heading. When silver prices are repressed, so to speak, these are likely to increase skyward and that’s why you have to invest in the precious metal ASAP.
Again, part of the reason is that it’s an industrial workhorse, thus, ensuring that it will always be in high demand. Here are a few applications where silver is a must.
Silver in the Medical Industry
Doctors, nurses and medical care professionals know the value of silver in saving lives! The precious metal may be valuable in jewelry but its value in medical applications cannot be underestimated, too. This is because silver has powerful antibacterial properties, thus, its usefulness in the reduction, if not the prevention, of infections in hospitals and the like. In fact, it’s used in cases when sterilization is crucial in effective and efficient healthcare.
Many types of surgical equipment, as well as endotracheal tubes, catheters and hearing aids, among others, use silver as part of their components. Even antibacterial creams and wound dressings use silver, as surprising as it may sound. In healthcare settings, even furniture and fixtures like door handles, paper files, and the like can also be embedded with silver to reduce the risks of superbug infections. Without silver, the world will probably have higher rates of MRSA infections, a type of life-threatening infection caused by a staph bacteria.
The process of water filtration and purification also require silver! But don’t worry as the silver used in these processes will have no impact on your health so drink as much as 8 tall glasses of water daily.
Silver in Solar Energy Generation
The photovoltaic technology industry is becoming more and more relevant in modern times. Such increasing relevance can partly be attributed to the increasing awareness of consumers for eco-friendly power sources including solar energy.
But there were issues in the generation of power from solar energy, such as its high cost of production, low levels of energy production, and unreliability in many respects. Fortunately, there are continuing advances in photovoltaic cells that make solar energy production more sustainable, both the in the environmental and financial aspects. Silver is a significant part of the solution here.
Photovoltaic cells are arranged in solar panels, which are installed in residential and commercial buildings as part of an energy production system. These cells usually have silver printed on them, thanks mainly to the high conductive and reflective properties of the precious metal. The result: Photovoltaic cells are becoming more and more effective and efficient in harnessing the power of the sun’s rays in generating electrical power.
As the technology used in the production of photovoltaic cells develops by the day, the need for silver will increase correspondingly. You will then find that it’s a great idea to have silver in your investments portfolio.
Silver in Consumer Electronics
Silver as a color isn’t just popular in consumer electronics from refrigerators to smartphones either. The precious metal is actually used in a wide range of consumer electronics including but not limited to computers, televisions, keyboards, smartphones, calculators, batteries, clocks, microwave ovens, watches and DVDs and CDs. It’s even used in pipes and wire soldering.
Since these products are in high demand, the demand for silver will also be high. When your investment portfolio contains silver, you can look forward to satisfactory, if not highly satisfactory, returns on your investment.
Of course, getting good returns on investment from silver demands certain effective and efficient strategies on your part. You have to weigh the risks and rewards of your decisions regarding buying, holding and selling your silver-related investments. Your bottom line will be affected, whether for the good or the bad, when you may a move on your investments so we always suggest getting relevant and reliable information first.
You should read newspapers, blogs, and market analysis reports so that you can gather as much necessary information as possible before making your move. You will also likely rely on your gut instinct, which can be honed with practice over the years, a necessary skill that successful investors have developed.