Silver is considered a safe haven asset during times of political and economic uncertainty. More affordable than gold, it’s also more volatile, attracting investors looking for short-term gains. Because equivalent weights are worth less than gold, silver can be liquidated to fund a small financial need.
Silver has a long history as currency and, thanks to its intrinsic value, has retained its purchasing power over long periods. Widely used in the manufacture of jewellery and collectables, demand for silver is also underpinned by a broad range of industrial applications.
Thanks to its malleability, conductivity and resistance to corrosion, silver is an important component in the telecommunications, medical and energy sectors. You’ll find silver in things like mobile phones and the cells in solar panels. Accounting for more than 50% of demand, the industrial use of silver continues to grow steadily.
As silver is by far the best electrical conductor of all metals, it a key ingredient in switches, contacts and fuses. As well as being incredibly versatile when it comes to electrical benefits, Silver also has an abundance of other features that make it a popular choice still to this day. With a natural low contact resistance, high thermal conductivity, chemical stability and mechanical wear resistance, this cost-effective metal alternative has the longest functional life.
Throughout the ages, silver purification in the medical field has been well documented. In modern society, silver is used in a broad spectrum of health care products. More specifically, silver sulfadiazine is used by every hospital in North America to help prevent infections that occur within the wounds of burn victims. Silver is also used for an abundance of other health benefits, such as wound dressings and other wound care products, climate control system components, gowns, catheters, stethoscopes and other medical equipment. Few people realise that they have silver inside their bodies as it now widely used in replacement hip and knee joints. As this helps to protect against infection, it affords a quicker healing process and shortens the recovery time.
When it comes to silver usage in the military sector, there is an abundance of benefits that this element brings to the table. The main one being the dry lubricity that is used for silver coated bearings in order to guarantee the safety and performance of jet engines. Of course, this also applies to domestic air travel.
When used during brazing and soldering, Silver produces naturally smooth, tight corrosion resistant joints, making it an effective metal replacement. Not only is silver bactericidal, it also offers a wealth of added benefits such as high tensile strength and thermal conductivity. Silver is an important addition in appliances that use water, most electrical devices and manufacturing industries.
With the benefits of Silver being seemingly endless, the long and well-documented usage of this metal within the field of chemistry cannot possibly be ignored. Within this comes countless examples of products that rely heavily upon the usage of silver, such as Antifreeze coolant and cleaning and wetting agents.
