Silver - then and now
(PresseBox) - The history of silver goes back thousands of years.
In the past, silver was used as jewelry, money or a unit of wealth. For hundreds of years, 15 or 16 ounces of silver were equivalent to one ounce of gold, which corresponded to the production rates. In the 1920s, it took around 100 ounces of silver to buy an ounce of gold. Then came industrialization and with-it electrification. Photography and the emerging automotive industry needed silver. Today, the precious metal is in demand as the best conductor of electricity, the best conductor of heat and as a catalyst. Without silver, the transformation to a green world and the move away from fossil fuels could not succeed. Just think of wind and solar energy and electromobility. Silver has been mined and consumed for hundreds of years. New uses have led and continue to lead to a growing demand for silver. Silver is unique in its dual function as an industrial metal and investment metal.
In 2022, the consumption of silver in industrial applications reached a new record. This was followed by a new record high in 2023. According to the Silver Institute, demand from the photovoltaic industry alone rose by 64%, exceeding all estimates. The second largest consumer is the electrical and electronics industry as well as the construction of power grids and the electrification of vehicles. In 2023, there was a market deficit of more than 184 million ounces of silver. A deficit is also forecast for the current year. It is expected to amount to a good 215 million ounces of silver, more than it has been for 20 years.
Silver companies should therefore focus on the right raw material, including Endeavour Silver - https://www.commodity-tv.com/ondemand/companies/profil/endeavour-silver-corp/ . The company, which has been producing successfully for years, owns silver projects in Mexico, Nevada and Chile.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - has a promising silver-gold project in Mexico.
Current company information and press releases from Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -) and Endeavour Silver (- https://www.resource-capital.ch/en/companies/endeavour-silver-corp/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Unternehmensinformation / Kurzprofil:
Datum: 21.06.2024 - 01:12 Uhr
Sprache: Deutsch
News-ID 707504
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contact information:
Contact person: Jörg Schulte
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"Silver - then and now"
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