Last Updated : 17 March 2011 at 17:00 IST
Silver to play a major role in Japan recovery
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Silver in particular is going to capitalize on the unfortunate situations in Japan, world’s third largest economy, they said.
Japan requires heavy investments to maintain its infrastructures and silver is going to play a role in it though not like that of steel and some other metals.
Silver isn’t just a precious metal, it is also one of our main industrial metals. One of the most conductive substances known to man, it’s used in everything from photography, to compact discs, to semi-conductors, to medical equipment.
Basically, if something is high-tech, it contains silver and Japan is a high-tech country.
Japan may require lot of the white metal to make damaged electrical lines and other related items especially in areas where radiation threats are high.
The wonderful electrical conductive ability of silver is used in producing electrical switches, electrical circuits.
As silver has a long lasting ability even in high temperatures, they are used for producing certain moving items and ball bearings.
Silver is also utilized to manufacture brazing and soldering metal items due to its ability of withstanding corrosion, large tensile power, antibacterial property and conductivity.
The white metal is able to disturb the cellular actions of bacteria which are necessary for their living. Hence, several hospitals are using silver coated surgical devices and other materials to eliminate any contamination.
Silver ions are also used for purifying water in many water pool, spas, hospitals etc, which Japan desperately required at the moment.
At present, silver extended losses, following its glittering cousin gold on speculative selling by some traders fearing escalating Japan troubles.
However both silver and gold will bounce back to attract the safe-haven buying once the over- leveraged longs have finished unwinding their positions, analysts said.
The white metal hitting an intraday low $33.70 before recovering to $34.02 an ounce.
Analysts said investors prefer other commodities over silver and gold and sold metals to cover losses.They added that both silver and gold look vulnerable to further selling.
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