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    Home»Politics»More investors turn to silver even as prices surge, driven by increased industrial demand
    Politics

    More investors turn to silver even as prices surge, driven by increased industrial demand

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    SILVER USE IN INDUSTRIES

    About 60 per cent of silver in the market is used for industrial production, while 10 to 20 per cent goes to investors. Demand on both sides has been on the rise. 

    The rest is used in jewellery, silverware and for other purposes. 

    Considered an excellent conductor of electricity, silver is sought after in sectors such as electric vehicles, semiconductors and artificial intelligence technology. 

    The rapid growth in such industries with a high usage of silver has fuelled concerns that it could cause a deficit in the precious metal and fuel strong price appreciation. 

    For instance, silver is an indispensable resource in the production of renewable energy systems like solar panels. It is used in thin wires running down each grid that collect and transport electrons generated by sunlight. 

    Unlike other metal electrical conductors such as copper, it does not rust and decay – making it the preferred choice. 

    According to the World Silver Survey, demand from the solar panel industry has surged close to 139 per cent over the past decade. 

    But supply is struggling to keep up, with mine production down some 7 per cent. 

    “Silver is used a lot in our busbar. If we (have) a shortage, then this will disrupt the whole solar industry,” said Larry Zhang, senior business development manager at JA Solar. 

    To mitigate disruptions, the Beijing-headquartered solar development firm said it has secured partnerships with suppliers to ensure a steady flow of material for its panels. 

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