Quick overview

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Gold experienced a sharp increase as central banks and investors sought out safe-haven assets because of the unconventional economic policies of the US Trump administration.

 

Silver is taking center stage. Silver’s price surged above $100 per troy ounce, more than tripling its value a year earlier and dwarfing even gold’s meteoric rise of over 80% due to a collision between limited supply and surging investor demand.

Demand for both precious metals has increased as investors look to protect themselves from inflation, currency depreciation, and political unrest.

However, silver has numerous qualities that make it a useful component in a wide range of industrial applications, unlike gold.

The profitability of manufacturers who use it could be negatively impacted by persistently high prices, which could also encourage efforts to replace silver components with other metals.

Silver is an electrical conductor utilized in batteries, electric cars, circuit boards, and switches.

In addition to being a vital component of solar panels, silver paste is also utilized in medical device coatings. Silver is still a common component of coins and jewelry, much like gold.

extensive industrial bases because of their sizable populations, and the significant role that silver jewelry continues to play as a store of value passed down through the generations, China and India continue to be the world’s largest buyers of silver.

Governments and mints also use large quantities of silver to make bullion coins and other goods. Its price fluctuates more sharply during precious metal rallies, and as a tradable asset, it is far less expensive per ounce than gold, making it more accessible to retail investors.

Silver’s price fluctuates more violently, but it frequently moves in tandem with gold. The valuation difference between the two metals was pushed to the limit by a spike in gold prices in the first few months of the year.