Silver Expected to Rebound in the Long Term Despite Recent Setbacks
Silver, a precious metal that is often seen as a safe haven for investors during times of economic and political uncertainty, has experienced a recent setback due to an aggressive interest rate hike campaign by the US Federal Reserve and a high US dollar. However, experts believe that there are reasons to believe that silver will rebound in the long term.
One of the main reasons for this optimism is the increasing demand for silver in the solar industry. Around 60% of silver is used in industrial applications, such as solar panels and electronics, leaving only 40% for investing. As the world shifts towards renewable energy sources, the demand for silver is expected to increase significantly.
In addition, silver is also used in a variety of other industries, including healthcare, automotive, and telecommunications. As these industries continue to grow, the demand for silver is likely to increase as well.
Despite the recent setbacks, many investors still see silver as a valuable asset to hold in their portfolios. With its unique properties and diverse range of applications, silver is expected to remain a popular investment choice for years to come.
As always, investors are advised to do their own research and consult with a financial advisor before making any investment decisions.
