Although silver remains extremely volatile in the short term, a mining executive said it is an attractive long-term investment because it will soon become an important metal for the global economy.
The president of Silver Hammer (formerly known as Lakewood Exploration), Morgan Lekstrom, said the global push for green energy and the growing popularity of electric vehicles are driving industrial demand for silver. He added that as technology advances, silver will become a critical metal for global growth, playing the same role as copper.
Lekstrom said investors should ignore short-term volatility as there is so much fundamental support. He noted that he sees some short-term mid-cycle weakness in the silver market amid a multi-year bull market.
And while demand for silver is expected to rise, the same can be seen in the mining sector, which has struggled to attract investor attention this year.
As such, it is only a matter of time before interest in the mining sector recovers as more companies feel the growing impact of global supply cuts.
Considering that there is so much potential in the market, now is a great time to invest in silver. Take the Silver Hammer as an example. Although it is a new player on the market, it is actively expanding its resources and projects.
