Silver is a storehouse of hard and valuable assets.
Silver is among the most traded precious metals in the world like gold, where people consider it a stable currency during periods of inflation.
But what distinguishes silver as opposed to gold?
Is that it is an important industrial and precious metal for emerging industries.
Photovoltaic solar panels are among solar panels types that rely heavily on silver where silver paste applied to silicon plates conducts electrons coming from the sun's rays that hit the plate.
The demand for these panels is expected to increase by 20% over the next five years at least, as silver will become more popular.
On the other side, Australia's demand for electric vehicles will increase by 50% of the total market by the end of the current decade.
In addition, silver is corrosion-resistant and is used in batteries
Where every combustion engine car contains approximately an estimated 22 grams of silver. For the hybrid type, we may find up to 25 grams, while the battery electric vehicles need between 25 - 50 grams of silver.
In general, there are more than 55 million ounces of silver used in vehicles each year.
With the growing electric car industry in Australia, Silver will become a vital component of our battery-powered future.
