This volatility can be problematic when managing portfolio risk. In fact silver could decline 2-3 times more than gold on any day. According to, in a bear market (prolonged price declines), silver will fall more than gold and rise more in a bull market (prices rise or are expected to rise). Approximately 50% of gold goes towards jewelry manufacturing, about 33-35% gets invested, and around 15% gets bought by central banks. On the other hand, gold is available in abundance, and it has always been used as a store of wealth, among other uses. 90% of all the silver ever mined has already been used. While silver is plentiful, its supply is restricted, thanks to its industrial application. Many industries require silver, so they typically recycle the used silver and put it back into the world’s supply. This precious metal is also sourced through recycling. However, this physical metal is mined as a by-product while mining other metals. In 2021, 822.6 million ounces of silver were produced. The demand for industrial silver will likely continue to grow. As per data from, 56% of its supply is used in the industry application of smartphones, solar panel cells, automobile electrical systems, and more. Silver is thermally conductive and electrically conductive. In fact over the past 20 years, gold has returned over 540%, while silver has returned about 365%.
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