7 Industries and Products That Require Silver

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The number of industries, sectors, and products that require silver are astonishing, and this demand has caused many investors to wonder how high silver prices will go. Some of the top products and industries that require silver include:

  • 1. Medical Care Industry– Silver use in the medical field has increased in the recent past. Before antibiotics where invented silver was commonly used to treat infections and other medical problems. Today may organisms be becoming resistant to drugs, and silver is once more widely used in the medical setting. This metal is used for silver ion treatments, silver compounds, and is used on dressings and in other medical applications as well.
  • 2. Electronics Industry– The conductivity and other physical and chemical characteristics that silver has makes this metal perfect for use in the electronics industry. Cameras, computers, cell phones, and almost all other types of electronics contain silver in at least small amounts. Without silver many of these products would not be possible and the modern world would not be the same place that it is today.
  • 3. Currency– Silver is used by the USA and many other countries to mint currency. The United States offers coins that are pure silver in 1-ounce weights, and many other countries also offer certain types of silver coins. The coins produced may be used for circulating currency or they may be marketed to investors because of the standardized purity and weight levels. Some silver coins minted today have a bullion value that exceeds the coin currency value.
  • 4. Jewelry– Silver jewelry has never gone out of style, and this application takes a substantial amount of silver each year. In addition to offers a gorgeous appearance many choose silver for jewelry because of the antimicrobial properties that this metal has.
  • 5. Dental Industry– Silver is widely used in the dental industry. Dentists combine silver powder with other metals to make the compound that is used for dental fillings. The unique chemical properties of silver allow the metal to be combined at room temperature, without a lot of complicated steps or an intensive process that is very time consuming. Silver can be mixed with various other metals, and the resulting compound tends to set fairly quickly. Within a few hours the filling compound will become extremely hard and fully set.
  • 6. Musical Instruments- One industry where silver is used that may not be commonly known is in musical instruments. Silver has unique frictional surface properties that make this metal perfect for a number of different musical instruments. Flutes often use silver for plating or are created using a special silver alloy for construction.
  • 7. Financial Industry- The financial industry requires large amounts of silver on a regular basis for investing purposes. Investors buy this precious metal because it is affordable, it retains wealth, and it has intrinsic value as a tangible asset. The investment demand for silver is high right now, and this metal has always been desired by investors in the past as well so the current demand is not new.

Manufacturing Around the World.

What is the link between silver prices and manufacturing rates around the world? The fact that there is a link cannot be denied, and the price of silver has gone up over time in part because the rate of manufacturing on a global level has also increased. New technologies that are developed also increase the need for silver in the manufacturing and industrial sectors.

Emerging markets and developing countries are responsible for much of the increase in manufacturing on a worldwide level. India, China, and other emerging countries are starting to develop manufacturing bases, and this is increasing the demand for silver in the manufacturing process in many countries. When the demand for a product goes up so does the price.

The increase in the manufacturing rate on a global level has many investors wondering, how high will silver go? The answer is that this metal will reach whatever price the market feels is appropriate based on the current supply and demand. Free markets do not interfere with the price of an investment vehicle, instead the price is set by what investors are willing to pay.

Since many investors use silver to provide protection and hedge against risks the demand from the investment sector also continues to rise. Over time the global manufacturing rate and silver use and the investment demand for the metal could push the prices up to record levels never believed possible in the past.

The manufacturing rate will not go down, and in fact this rate will continue to rise in the future. Because this is linked to the demand for silver and the price of this metal on the market there is no clear answer on what the ceiling for silver would be. This metal could end up being just as valuable in the future as gold is today.

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