Silver is a highly versatile metal with a wide range of uses. In addition to its use in jewelry and silverware, this precious metal has wide utility in various industrial and manufacturing processes.
As the global economy continues its recovery, the demand for silver in industries is expected to grow. According to the Silver Institute, global silver demand is expected to rise 8% to achieve a record 1.11 billion ounces this year. The need for silver is expected to be driven by silver industrial fabrication, investments in silver bars and bullion coins, and its use in jewelry and silverware. Former director of the United States Mint and senior IRA strategist for gold and silver dealer U.S. Money Reserve, Edmund Moy, said “a compelling argument can be made that 2022 will be a good year for silver.”
