“Silver is needed. It’s a metal that can’t be replaced. The demand for silver is going to go through the roof over the next decade.”— Tim Murphy, Scottsdale Bullion & Coin Senior Precious Metals Advisor
2021 has been an eventful year for an inflationary economy.
We’ve talked already about how inflationary pressures send the dollar lower while sending the cost of food, gas, rent, and other necessities higher. We’ve seen worrisome supply chain issues. We’ve scratched our heads about the Federal Reserve’s questionable responses.
Now, let’s turn our attention to the trajectory of silver, which is even more responsive to inflation than gold. Importantly, silver’s industrial uses will make it a high-demand metal in the coming decade.
Join senior precious metals advisors Damian White and Tim Murphy for a peek into silver’s bullish factors as we head into 2022.
High Demand for Silver from Investors and Industry
Silver is a precious metal that, like gold, provides a buffer against a fluctuating dollar.
This special metal also has plenty of industrial uses, which make this it a hot ticket item for many growing sectors, such as renewable energy. Solar panels and electric cars both require silver in primary manufacturing.
The numbers are impressive: 20% of all annual silver production goes toward solar panels, and another 20% goes toward electric cars. And yet, demand outstrips supply. The yearly 900 million ounces of silver extracted doesn’t quite meet the 1-billion-ounce demand.
Silvers’ year-over-year deficit may cause serious ripples in the market over the next decade as demand sends silver prices soaring.
Don’t Let the Long-Term Advantages of Silver Pass You By
Just ten years ago, the silver price was $50/ounce. Now, we’re climbing the potential price ladder at more than half that number. The supply-and-demand fundamentals for silver are clearly bullish over the next ten years.
Silver is an irreplaceable metal that can be added to a precious metals IRA for long-term gains. If you’re ready to position yourself strategically in front of silver before it starts to really climb, give us a call.