Greentech basically refers to the type of technology that is considered environment-friendly based on its production processes. The full form of “green tech” is green technologies that are much less harmful than fossil fuels.
Although the curiosity among the youth is growing day by day as each and everyone wants to know and gather information about the impacts of climate change and depletion of natural resources
Who Is Silver? What Is The Demand Of Silver
Silver was in a tricky situation at the start of the 2024. Industries have increased the consumption and the demand for silver especially in solar panels and electric vehicles.
But somehow silver will never be enough to fulfill the demand for it in the market. But then also the demand of silver had gone down by 10% in 2023 and the price remained near $23 per ounce at the end of the year.
Silver investors remained confused as the demand always grew high but the prices were not affected at all. According to Peter Krauth, a silver expert the situation is complicated but the prices will go high at the end of 2024. So the investors should invest in this in a large amount.
Robust Greentech demand
Robust silver demand means that there is a strong and huge demand for silver in the market affected by various factors such as:
- Investment demand (coins, bars, exchange-traded funds)
- Industrial applications (solar panels electronic devices and medical devices )
- Jewelry
- Increasing demand in emerging markets
The Robust Demand Can Lead To:
- Increased silver prices
- Greater investment in silver exploration and development project
- High production and sales volume for silver miners
Demand For Silver Is Correcting, Not Collapsing
Demand is correcting not collapsing means the demand for silver is adjusting to a more favorable level rather than decreasing or falling apart. And it’s a positive sign for the investors in the market so that they can invest.
Investors should think of it as a minor adjustment rather than a complete collapse the demand for silver is still strong and it will be in the future as well but it is stabilizing or normalizing after a period of rapid growth.
This correction could be of various factors, such as:–
- Shifts in investors’ demand
- Fluctuations in the global market or the currencies
- Temporary delay in economic activity
However, the basics that make silver valuable are still strong and are growing stronger day by day. This adjustment can even be a good option for investors to buy silver at good prices and sell it at higher one in the future.
Silver usage in green tech
Silver is considered the main and the most important component in many green technologies including :
- Solar Panel:- Silver is used as a conductor in solar panels to transport the eclectic current
- Energy Storage:- Silver is used in the production of batteries for energy storage
- Water Purifiers:- silver is used in water purification system to remove bacteria
- Wind turbines:- silver is used in the production of wind turbines, especially in blades
- Biofuels:- Silver is used as the catalyst in the production
- Green architecture:- silver is used in building materials such as windows, to reduce energy consumption
Silver’s most unique properties such as its high conductivity, resistance, durability, and antimicrobial properties make it an important material in the development of green technologies.
As the demand for green technologies continues to increase, the demand for silver is also expected to increase, making it a valuable resource in the transition to a more sustainable future.
Prices could surge further
Silver prices are considered to grow even more higher in the upcoming days. This means that silver could become more expensive in the future. Imagine you want to buy silver bangles or a coin—it may cost less if you buy today but it will going to become expensive.
This indicates that the demand for silver will be high in the future, and the prices will rise when there is less supply and the demand for silver will be high. It’s like the price of a popular toy that sells out during the seasons is much higher as the demand for that toy is higher at that moment or season.
Recession Could Play Spoilsport
If in case, recession happens, it could negatively affect the price of silver directly. A recession is like a big slowdown in the economy, where businessmen and investors have less money to invest or spend.
When that happens:–
- Demand for the silver decreases (means less people want to buy the silver )
- Prices of the silver go down(it means it will become cheaper)
Think of it like a store where there is a sale, if there are fewer people buying the products the store will lower its prices to increase its sales, and if more people are buying the products then the store will increase its product prices that means the demand is rising.
