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Is Silver Still Valuable in 2022?

Blocks of pure silver

We’re a quarter of the way through 2022, and silver has already shown a glimmer of what was forecasted for this reliable precious metal investment. The value of silver and gold investments is never in doubt for a given year as the two reliable sources of investment rarely ever see a decline.

Though they have similar traditional values, physical silver is often ignored for its shiny yellow sibling—but market specialists have predicted this year as one where silver outperforms gold in the trading market.

What Moves the Silver Price

Silver is rare in nature. This shortage of supply in comparison to the high demand is also fueled by the abundant use of silver in the industrial sector. It’s utilized in almost all industries, including pharmaceuticals, dental, automobiles, electronics, etc.

While supply and demand is the biggest price mover, the price of silver is also affected by the financial benefits it provides during inflation or economic downturns. Silver rarely loses its value, which is why investors look to invest in precious metals.

When the economy begins to act up, the price of silver goes up, as observed in the great recession in 2011 when silver reached a record high market price. With the recent Russia-Ukraine, trade wars with China, the prevalent pandemic, and other geopolitical embargoes, silver prices are expected to increase in 2022.

Silver Price Forecast for 2022

Silver prices fluttered throughout 2021 as the precious metal was sold at a price as high as $29 to as low as $21. The overall average shift was recorded at a profit of 6% throughout the year.

Experts have predicted 2022 to be more or less the same for silver as global affairs are expected to influence silver prices in one direction or the other. The average increase is estimated to be 5%, 1% less than the previous year, with the average selling price estimated to be around 24.32 US dollars.

Experts have further stated that due to the increase in industrial demand in the coming years, particularly in the electronic and pharmaceutical sectors, the price of silver will hit a staggering $40 by the end of 2024. So, if you’re thinking about investing in silver, now might be the best time for it.

Why Will The  Demand for Silver Increase?

There are multiple factors why the demand for silver is expected to increase in the coming years. Silver is a highly volatile precious metal with several other distinct properties like its reflective nature, thermal conduction, among many others.

Silver can be utilized as a photovoltaic in solar panels, making the element crucial in the solar energy sector. Other industrial purposes like eco-centric vehicles, scientific equipment, and pharmaceuticals will demand silver at a higher capacity.

Orion Metal Exchange is one of the top precious metal investment dealers in the United States.

We can help you with investing in silver coins or enable you to open a silver IRA to secure your retirement.

Want to learn more about our precious metal investment services? Contact us today!

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