The boom in AI could mean a boom in industrial demand for precious metals in 2024.
Metals Focus, an independent precious metals research consultancy, released a note recently that said it expects the increased demand for chips powering AI technology to drive “widespread support for a range of precious metals bearing components.”
Silver is expected to play a significant role as the “green economy” evolves. The Silver Institute recently participated in a panel discussion titled “Silver’s Role in the Green Economy” at the London Bullion Market Association’s Global Precious Metals Conference in Barcelona, Spain.
This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Silver is fundamentally a monetary metal and its price tends to track with gold over time. But it is also an important element in technology and industry. Industrial use makes up more than half of the demand for silver.
We’re seeing new uses for silver in technology all the time. The most recent issue of Silver News from the Silver Institute highlights some of these new developments.
With much stronger-than-expected second-quarter GDP growth and continued labor market strength, a growing number of people in the mainstream now think the US has escaped the clutches of a recession despite the Fed driving interest rates to the highest level in 16 years. But there are plenty of signs that a recession is looming. For instance, a big plunge in the sale of cardboard boxes indicates a slowdown in economic activity.
There’s another off-the-beaten-path indicator that flashes recession — a big drop in the demand for gold in the technology sector.
Researchers at Duke University are experimenting with replacing lithium in batteries with argyrodite, a mineral that contains silver along with other elements.
This could further increase the demand for silver and tax an already strained silver supply.
All major categories of silver demand charted highs in 2022, contributing to a new total global silver demand record of 1.242 billion ounces.
This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Silver demand in India is expected to increase with the introduction of new investment products. India already ranks as one of the world’s biggest silver consumers.
This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Silver demand in 2022 is expected to chart an all-time high.
This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Multi-asset portfolios would benefit by adding a 4 to 6 percent silver allocation, according to new research by Oxford Economics.
This is one of several silver-related stories in the latest edition of Silver News published by the Silver Institute.
Gold demand through the first half of 2022 came in at 2,189 tons, up 12% over the first half of last year, according to the World Gold Council Gold Demand Trends Q2 report.
