SOURCE:[Kitco] – In the opinion of some, silver has become a troublesome investment metal since the decline of the photographic industry. It is doubted that the new industrial applications are, or will be, of equal relevance to sustain the metal’s price and relevance. But is this really true? Tech Metals Insider spoke Mike DiRienzo, executive director of The Silver Institute, to find out.
“The future of silver in industrial applications is actually quite bright”, explained DiRienzo. “In fact, if you compare developments since 2003, when the photographic silver market was still at a high, with 2012 you will see that – while the market for photographic silver declined from 193 million ounces to 57.8, the market for industrial uses went up from 368 milion ounces to 465 million ounces. At the same time, the annual average silver price went up from $US 4.87 / oz to $US 31.15 / oz, its second highest average. So, regardless of what happened to photographic silver, the silver price has increased, and industrial applications have increased.”
