Over 60% of silver is used in industrial applications, with the residual sub 40% used in jewelry and silver bullion. There’s certainly an argument to be made that silver is a base metal that likes to pretend that it’s still precious. One of the most important things to understand about any commodity is its supply and demand fundamentals. Silver production has been impacted severely by COVID-19.
https://internationalman.com/articles/is-silver-on-the-brink-of-a-major-move
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