Silver prices are expected to rise in 2020 with macroeconomic and geopolitical conditions remaining broadly supportive for precious metals, this according to a report highlighted in the latest issue of the Silver Institute’s Silver News.
Silver investment in three major categories is up so far this year, according to a report highlighted in the latest edition of Silver News.
Silver held in ETFs hit an all-time high this year. Year-on-year through mid-August, 736.9 million ounces of metal were held in silver-backed ETFs. Meanwhile, global mint silver bullion coin sales rose 30% year-on-year through July.
Not too long ago, CNBC commentator Jim Leventhal said he had no interest in gold because it has “no uses as a metal.” Of course, this comment is utterly absurd. It goes to show that just because you have an MBA doesn’t mean you have common sense. After all, anybody with an ounce of common sense knows that there are hundreds of uses for gold. In fact, the demand for gold in industry and technology is growing steadily.
Here’s just one example – scientists have discovered a way to use gold to keep your glasses from fogging up.
A couple of days ago, CNBC commentator Jim Leventhal made a pretty astounding comment. When asked about gold, Leventhal said he had no interest in it because gold has no uses as a metal.
No uses?
What?
Demand for gold in technology and industrial sectors grew for the eighth consecutive quarter in Q3, according to the World Gold Council Global Demand Trends Q3 report.
Overall, gold used in technological applications grew 1% to 85.3 tons in the third quarter. That marked the eighth consecutive quarter of year-on-year growth. Strong demand in the electronics sector helped drive overall industrial and tech demand for the yellow metal higher.
Scientists continue to find new uses for gold, particularly in the medical field.
In the latest development, scientists have discovered a process using gold nanoparticles that helps reduce inflammation and speeds healing in damaged muscles
Could gold help us find space aliens?
It just might!
NASA’s James Webb Space Telescope (JWST) is scheduled to launch into space in 2021. NASA claims the $10 billion telescope will allow scientists to “look back in time to see the very first galaxies that formed in the early Universe.” And thanks to its golden mirror and incredibly sensitive camera system, it may allow us to detect alien life out in space.
3D printing is a rapidly evolving technology that could potentially change the world like the internet did. People are most familiar with 3-D printing due to the controversy surrounding 3D printed firearms. But the technology can be used to produce everything from tiny precision components to houses.
Now gold has a role to play in the evolution of 3D printing technology. Scientists at Vanderbilt University have developed a process using gold nanoparticles to reveal tiny defects in 3D printed parts.
We continue to see amazing new technical applications for gold.
Now scientists have used the yellow metal to develop thermal camouflage that can make a person invisible to night vision cameras.
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.