From long time, silver has been valued as a precious metal. But for first time world is running short of silver and investing experts predict that the price of silver would surpass the gold price in coming few years.
At present, silver is widely used in more than 10,000 industrial applications such as microchips, microwaves etc. Reports show that from January 2000, the value of sliver has been shot up by 690%. The price of sliver has been doubled in 2012 when compared to price in 2007.
The supply demand for silver is 30 million ounces while the demand for quantity of gold is 1.6 billion ounces. More than 95% of sliver that is produced by mining has already been used by humans.
Survey report forecasts that by the end of 2015, the global demand for sliver will raise by 36%. In 2010, the supply demand of silver was 487 million ounces and by 2015, the number will raise to 666 million ounces.