Silver Is All Around Us (Video)

Sunny Pannu, director of corporate development for Defiance Silver, a silver explorer and developer, recently sat down with Silver Institute executive director Michael DiRienzo for a wide-ranging discussion about the fantastic world of silver.

The discussion focused on the present state of the silver market and its future. Topics ranged from an explanation of how the silver price-fix works to the dynamics of supply and demand.

DiRienzo emphasized the dual nature of silver, noting that it serves as both an industrial metal and a precious metal for investment. He echoed the same themes as a prominent mining CEO did in a recent interview with Kitco News, saying both investor and industrial demand for the white metal is strong.

DiRienzo  said silver coin sales are on a record pace, as are inflows of silver into ETFs. On the industrial side, it’s interesting to note that the demand for silver has been steady despite general sluggishness in the global economy. DiReinzo said this was due in part to the expanding and diversifying uses for the metal.

Silver is basically all around you. It’s contained in your automobile, your cell phone, your computer, solar panels, PDP televisions, and many, many, many medical uses. So, on the industrial side, you’ll find silver’s use not only a mainstay, but also its growing in many other areas as well.”

DiReinzo said he thinks the future for silver is bright.

I think we’re having a great first half of 2016. Anytime you can have the price rise by darn-near 50%, it’s good…I think the second half is going to be equally as promising.”

Highlights from the interview:

“[The trading hubs such as India and Singapore] is just another avenue [to invest.] It’s another means in which information is coming to the market, and we think that in-and-of-itself is a good thing. We need to have as much diversity as possible in the marketplace.”

“There are many ways to take a position in silver…First of all you have silver bullion, and that’s silver in the form of bars…Official coins – coins that are issued by a government mint, whether it be the US mint or the Royal Canadian Mint, or the Australian Mint, or the Austrian Mint – they all issue official coins. Ours is known as the American Eagle, and that American Silver Eagle program will be celebrating its 30^th anniversary later this year…It is today the very most successful official coin program in the world. We’re on track right now to beat last year’s record sales.”

“The silver price itself, up as of July 11, has been up 44%. In terms of coin sales, they increased 29% globally in the first quarter. Last year, they sold 44 million ounces of silver American Eagle coins. We’re at 27 million coins through July 19.”

“Beyond that you can buy silver certificates, you can set up storage accounts, you can do an accumulation plan, you can buy silver on the futures with a forward contract, options, and of course the exchange traded funds, which is a very popular product.”

“Through the first six months there was a record 662 million ounces of silver in exchange traded products.”

How do you decide between investing in ETFs and physical metal? Download the free report Gold vs. GLD.

“Silver is basically all around you. It’s contained in your automobile, your cell phone, your computer, solar panels, PDP televisions, and many, many, many medical uses. So, on the industrial side, you’ll find silver’s use not only a mainstay, but also its growing in many other areas as well.”

“Silver has a unique combination of characteristics which is not found in any other element. Silver is very malleable and ductile. It can be melted, it can be stretched, it can be turned into wire, it can be turned into ball bearings…it can be used obviously in jewelry and silverware, but it’s very sensitive to light, for photographic purposes. It’s conductive to electricity and has a bio side. It helps mitigate bacteria, and mildew, and mold without harming people or the environment.”

“Almost every computer, cellphone, automobile, and appliance contains silver.”

“I think we’re having a great first half of 2016. Anytime you can have the price rise by darn-near 50%, it’s good…I think the second half is going to be equally as promising.”

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