Silver has long been recognized as a store of value, a hedge against inflation, and a component of industrial applications around the world. In fact, industrial applications account for around 55 percent of global demand in silver, according to research by Sprott, a global asset manager.
Plus, silver has shone during tough times. During the 1980 recession, for example, the price of silver reached a near-record high of around $49.45 per ounce. Its current record high was reached in 2011, when the price rose to $49.51.
