Silver Gaining New Status

Silver is setting new records. So much so that many wonder if silver will reach the status of gold. There is evidence that silver is gaining ground on gold, not only in its popularity for jewelry, but in many other areas of interest.

For instance, silver alone has nearly doubled in its value. Silver increased in value by 14%, while gold only rose 7% in value in the recent months. This shows silver reaching a 16 year high. This could be due to the concerns of inflation and the decreased value in the dollar in the recent distress of economic times. Investors are seeking out silver as a solid investment and safe place to put their money to work. Silver coins are being sold in record numbers. Worldwide silver is gaining popularity and momentum over gold.

Silver is in high demand. Industries use silver where gold would not be considered. Technology needs silver for its circuit boards. Auto makers use silver in heated treated windowscreens. Silver is used in the making of photographic film. The photo industry is even worried that the supply of silver could be at an all time low which threatens the industry. Aerospace and defense also use silver in their programs. India, once known for its appetite for gold, is switching to more silver. In fact, last year, India imported only silver and not gold.

Clearly there is evidence that silver is challenging gold and making its way toward the top. Many prefer silver and believe that silver could take on the status of the "new gold" throughout the world.