As the world continues its transition to clean energy and advanced technologies, experts predict a sharp rise in silver prices. The precious metal, often overshadowed by gold, is emerging as a critical resource for industries ranging from renewable energy to military applications. Collin Plume, CEO of Noble Gold Investments and author of Silver Is the New Oil, argues that silver is poised for a dramatic price increase, potentially surpassing $60 per ounce in the coming years.

The Role of Silver in Emerging Technologies

Plume’s book highlights silver’s pivotal role in the green energy revolution, particularly in solar panels and electric vehicles (EVs). With silver used extensively in the manufacturing of solar cells and EV batteries, the demand for this metal is projected to skyrocket. By 2025, Plume estimates that electric vehicles alone will consume 90 million ounces (2,812 tons) of silver annually.

As traditional energy sources give way to renewable alternatives, silver’s unique properties—such as its high conductivity—make it indispensable for a wide range of modern technologies. Furthermore, the U.S. military’s reliance on silver for advanced weapons systems underscores the strategic importance of the metal. With reserves declining and mining production faltering, the supply of silver is in danger of falling short of global demand, driving prices higher.

Supply Shortages and Geopolitical Implications

One of the biggest challenges facing the silver market is the rapidly diminishing supply. Current projections suggest that silver reserves could be depleted in just 20 years. This looming shortage is compounded by China’s dominance in silver production, raising concerns about U.S. strategic interests. Plume’s forecasts suggest that silver’s price could rise dramatically due to these supply constraints, with the potential to rival oil in both economic and geopolitical significance.

As of January 10, silver is priced at $30.26 per ounce, but experts predict that with increased demand in green technologies and military applications, prices could climb significantly over the next few years. Plume’s analysis suggests silver’s growing importance as a “strategic reserve asset” could elevate its value even further, aligning with trends seen in gold’s price surge over the past decade.

The race for silver is not just an economic matter; it also has far-reaching implications for global politics and energy policy. As nations push for greater energy independence and technological advancement, silver will undoubtedly play a central role in shaping the future of the global economy.