Silver Prices: Tech Sector to Send Silver to $50 an Ounce?

by Michael Lombardi
Profit Confidential

There’s one big factor that continues to be ignored by investors when looking at silver prices: many technology products need silver. Silver is used in smartphones, tablets, laptops, and many other home and business electronics.

This may sound like a bold statement, but the technology sector could take silver prices to $50.00 an ounce.

In 2015, industrial demand for silver reached 588.7 million ounces. Of the 588.7 million, 246.7 million ounces of silver were used for electrical and electronics. (Source: “Supply & Demand,” The Silver Institute, last accessed August 18, 2016.) So we have about 42% of the silver created each year being taken up for tech products. That’s huge.

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