Why Silver Prices Are Increasing
When Demand Increases So Do Silver Prices
- Silver Coins – This is the obvious answer, most countries do not currently use silver in their coins but many will use silver for specialty issued bouillon coins and for commemorative coins which are sold far above face value. Mexico still uses a little bit of silver in their coins.
- Photography – Silver halide is used for x rays, motion pictures and photography. The advent of digital technology had curbed some of the demand for silver in these areas but with the industrialization of 3rd world countries this has more than offset the effect of newer practices. Silver Prices will be effected by the increased usage in this area.
- Batteries – Silver is emerging as the new standard for batteries whether it be disposable or rechargeable. Silver oxide cell batteries, especially those used in the digital cameras, hearing aids and watches (small disc batteries) are made of 35% silver by weight. Environmental concerns have increased the need for silver oxide batteries in cell phones and laptops and replacing the lithium ion batteries.
- Electronics – Silver is used in everything from your automatic toll passes to those tracking devices that deter people from stealing your things or sound off the alarm at your department store when you leave the tags on your new pants. Silver is also used to coat dvd’s, cd’s and in plasma tv’s and monitors.
- Solar Power –Silver prices are effected by the emergence of solar power, this is the technology of the future and is utilized all across the globe. Silver is utilized in over 90% of all solar panels in use today and most large corporations are going to solar power. Many people are taking advantage of the environmental and the economic adantages of self produced electricity.
- Mirrors and Coatings – an ultra energy efficient window using silver as a coating can reflect up to 95% of all uv rays. This keeps the ultra high temps out of your home but also keeps the internal heat in, this makes for an ideal, year round climate control system. It is also being utilized in paint and offers an antibacterial barrier which is huge in health care and food service facilities.
- Medical – The greatest medical application of silver is the ability to resist bacteria and in essence decrease the probablity of infections. Surgical which were made strictly of “surgical steel” are now coated with silver, this is proving to be effective even against the almighty “MRSA” a potentially life threatening staph germ. The media exposure of this super-bug will keep demand for the silver coated tools and also drive up silver prices.
- Water Filtration – Silver everyday is becoming more and more prevelant in water filtration systems that are used in pools, spas and health care facilities. The use of silver helps reduce the need for chlorine and other harsh chemicals, it prevents the build up of bacteria and algea. If people continue to be eco-friendly this could be friendly to silver prices as well.
- Jewelery – Jewelry is fancied by designers to use in rings, earings and necklaces but is too soft to use on its own. Silversmiths will usually alloy it with other metals such as copper to harden it, this is exactly what stering silver is.
- Silverware and Table settings – Silver cleans up real nice and does not tarnish easily. Sterling silver has been the standard in flatware since the 14th century and can be a little expensive because of silver prices. A cheaper option for tableware is a plated silver coating that has the beauty of silver but not the price tag.
These are Only The Top 10 Factors Driving Up Silver Prices, There Are More!
Silver prices go up and down, I do not guarantee that silver prices will go up.
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