First Published: 21st November, 2024 14:39 IST The Silver Institute has also reported that silver's industrial demand accounts for over half of its total demand. Silver, once seen as the more affordable alternative to gold, is rapidly gaining attention for its potential to surpass gold in value. This shift is being driven by its increasing demand across key sectors like technology, green energy, and sustainability, making it a rising star in the precious metals market.
Historically, gold has been the ultimate symbol of wealth and a safe investment. In contrast, silver was mostly used for coins, jewellery, and industrial purposes. However, as the world embraces greener energy solutions, silver is transforming into an indispensable resource, particularly in solar energy, electric vehicles (EVs), and electronics.
Silver’s key role in solar panels where silver paste is used to conduct electricity has become crucial as the world shifts toward renewable energy sources. In fact, around 10% of global silver demand in 2020 came from the solar industry, with projections showing even higher demand in the years to come. The surge in electric vehicle production, which requires silver for batteries and connectors, further fuels this demand.
Additionally, silver’s excellent conductive properties make it an essential material for electronics like microchips and circuit boards, further boosting its market value. As industries become more tech-driven and green-focused, the demand for silve.