Silver bullion is more than just an investment commodity. It is an industrial metal, used in the production of a wide variety of renewable energy sources, medical and automotive products, and consumer electronics. As such, its value as a bullion investment is often overlooked in favour of other, traditionally more attractive metals.
The demand for Silver is increasing, however, with an estimated 90 million ounces projected for use by the automotive industry alone by 2025. In 2020, investor demand recorded its highest increase since 2015, rising 12 percent to 186.1 million ounces. We are moving into a Silver age, and it is no longer far fetched to expect a Silver price of $1000 by the end of the decade.