Gold, which is sometimes referred to as the yellow metal, and silver are considered to be precious metals because of their reflectivity. Of the two metals though, silver reflects 95% of white light, which makes it suitable for use in jewelry.
Silver is actually the shiniest metal, with aluminum coming in second, reflecting 90% of white light. However, despite coming in second, it is aluminum that is used by NASA in its Hubble Space Telescope.
Why? Because aluminum can stand the test of time, while silver oxidizes too fast, causing it to tarnish at a rapid rate, which turns it into a dull gray. Those who own silver may have noticed this, considering how exhausting it may be to have to polish silver regularly in order to prevent the metal from tarnishing.
The good news is, there may be a way to use the metal without having to combine it with nickel, which some fraction of the population is allergic to. Recently, a subsidiary of Rolex called Tudor, launched a new watch that uses a silver alloy case. To retain the metal’s shine without causing irritation or resulting in tarnishing, the company utilized aluminum instead of using an alloy of nickel and nickel.
This move led to the creation of wearable silver that doesn’t tarnish easily, which is a good demonstration of the metal’s wearability and will promote its use in jewelry once more. Additionally, current materials technology has allowed silver to once more become a dominant precious metal in demand, with the Silver Institute noting that the metal’s demand may soon rise as a result of the post-pandemic recovery.
The institute’s report notes that the international demand of silver this year is expected to increase from roughly 896 million ounces in 2020 to more than a billion ounces, with supply also growing from about 976 million ounces last year to just over a billion ounces this year.
In addition, silver’s industrial usage is expected to rise, with Goldman Sachs noting that the metal’s outperformance of gold aligns with the international industrial recovery. The metal’s industrial applications are projected to increase to a four-year high, which further strengthens its recent run.
The demand for the metal doesn’t take into account ETF stockpiling, which makes up an additional 150 million ounces, meaning that demand may surpass supply, with analysts noting that the market may experience a 126-million-ounce deficit in silver production. This, coupled with projections which show that silver’s performance will strengthen in the near future and how it serves as a better-performing inflation hedge in comparison with the yellow metal, provides a more well-rounded investment for those looking to invest in precious metals.
Players in precious metals segment such as GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) may benefit whether it is gold in pole position or silver becomes a favorite among investors.
NOTE TO INVESTORS: The latest news and updates relating to GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) are available in the company’s newsroom at http://ibn.fm/GHVNF
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