Silver, Platinum & Palladium
Apart from gold, you can also choose to invest in silver or white metals like platinum or palladium. While silver can be considered a “classic”, platinum and palladium are not as widely known. In this article, you will find a short overview on the areas in and purposes for which these metals are used.
Silver
Silver is not only used in the jewellery industry or for silver coins and silverware. More than 50% of silver is used for industrial purposes, as it has high thermal conductivity and is one of the best conductors of electricity and heat. Because of this, it is essential for producing smartphones and photovoltaic systems.
It can be assumed that the demand for silver won’t cease in the foreseeable future due to its vital role in the renewable energy sector. In 2020, more than 3,000 tonnes of silver were needed to generate about 130 gigawatts. According to estimates by the International Energy Agency (IEA), more than 600 gigawatts of cumulative capacity must be installed annually until 2030 to comply with the Paris Climate Agreement.
White Metals: Platinum & Palladium
Platinum and Palladium are the so-called white metals. Palladium is mostly used in the automotive industry as its properties make it ideal for catalytic converters in petrol engines.
Platinum is also important for the automotive industry. Apart from this, it is used in the health sector (e.g. for pacemakers or dental implants) and to produce smartphones. Both metals are used in jewellery production.
