Industrial use of silver could increase in the next 5 years - Mark Cruise

(Kitco News) - The industrial use of silver will likely increase in the next five years, especially as we move toward a low carbon economy, said Dr. Mark Cruise, CEO of New Pacific Metals.

"Silver has got its usual store of value against inflation, and we certainly see a lot of global headwinds and inflationary pressures for gold and silver," Cruise told David Lin, anchor and producer of Kitco News at the Denver Gold Forum. "But what makes silver unique is its industrial end use as well. It's a critical commodity in basically moving to a low carbon economy, in particular solar and wind power."

Cruise described the many uses of silver in the modern world. "Silver has two main uses. Silver has very high conductivity, it is great for soldering electronics, and is used in solar power and wind generation. Something people don't realize is that is has very strong antibacterial properties," Cruise added. "Silver is also impregnated in sports gear. And we see an increased use of silver in the medical field and in water filters. It's a bit of a unique metal, a store of wealth."