Industrial use of silver could increase in the next 5 years

Stock Market Volatility Suddenly Soars

Gold last traded at $1,774 an ounce. Silver at $22.49 an ounce.

NEWS SUMMARY: Precious metal prices rose Tuesday on safe-haven buying, rising volatility and a flat dollar. U.S. stocks failed to rebound in a volatile trading session following the S&P 500's worst day since May.

 Mark Cruise/Kitco--"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.'"