Silver Has More Industrial Applications Than Gold

The second reason that silver is a better investment than gold is that it has more industrial applications than gold. The demand for silver increases as a result of these industrial applications. Silver is conducive electronically, thermally, and in terms of reflection. More silver-based patents have been issued over the past 25 years than gold-based patents. In the past ten years, approximately 1 billion ounces of silver were used in consumer goods, according to reports.

Because only trace amounts of silver are utilized in industrial applications, the number of industrial applications of silver will also rise in the coming years.As a result, it is not practical to recycle the silver used in commercial applications; rather, it makes more sense to mine new silver and use it than to recycle silver used in older products.

It stands to reason that the rate at which silver is used in industrial applications will continue to rise in the coming years. Silver, on the other hand, is a naturally occurring metal with a limited supply in the earth's crust. As a result, it makes sense to anticipate a rising silver price trend in the coming years.