Silver

Silver is considered one of the longest standing forms of money in the history of the world, perhaps second only to gold. With a 5,000 year history, silver has both monetary and industrial applications. Historically, silver has generally tracked the directionality of gold - albeit with a higher beta - almost acting like a lever to gold. Many investors even view silver as a preferable investment to gold, given its lower price and utilization in key technological applications. More than 60% of all silver produced, is not available for investment, but rather utilized for industrial and electrical applications. For example, silver exhibits the highest electrical conductivity and thermal conductivity of any metal, making it ideal for electrical connections in Electric Vehicles (EVs). As a result, approximately 2X more silver is needed in EVs as opposed to standard combustible engine vehicles.