Anyone else keeping an eye on industrial silver demand for their IRA?
- ā¢We're seeing massive pushes for solar, electric vehicles, new electronics, even things like medical devices.
- ā¢All of these require silver.
- ā¢My concern (and hope, honestly) is that this industrial consumption is going to create real scarcity over time, driving prices up significantly.
I've been thinking a lot recently about how much industrial demand is going to impact silver prices long-term, especially for those of us holding silver in our IRAs. I rolled over about $180k of an old 401k into a Gold IRA a couple of years ago ā mostly gold, but I put about 20% into silver because I liked the dual appeal of it being a monetary metal and having so many industrial applications.
Being a military contractor here in Jacksonville, Iām pre-disposed to thinking about security and long-term stability, and silver's industrial uses really jump out at me. We're seeing massive pushes for solar, electric vehicles, new electronics, even things like medical devices. All of these require silver. It feels like the demand side of the equation is just going to keep accelerating, especially with all the talk about reshoring manufacturing and new infrastructure bills.
My concern (and hope, honestly) is that this industrial consumption is going to create real scarcity over time, driving prices up significantly. Unlike gold, which is mostly hoarded, silver gets used up. Is anyone else banking on this for their long-term growth in their PM IRA? Or am I overestimating the impact this will have on the spot price, given how much is still mined?
What are your thoughts on how industrial demand plays into your silver investment strategy for your IRA? Are there specific industries or innovations you're watching that you think will be bigger drivers than others?