The historical perspective of silver unveils it's evolving role and value over time. Originally, silver was predominantly utilized as a form of currency, actively employed in everyday transactions while gold remained within the possession of the affluent. Often referred to as "the poor man's gold," silver maintained relative stability owing to its status as a monetary metal.

During times of market volatility or rising inflation, many investors turn to silver as a means to diversify their portfolios and safeguard their wealth. Moreover, investing in silver offers the advantage of versatility. Unlike gold, which primarily serves as jewelry or investment material, silver finds widespread usage across various industries such as electronics, solar energy, and medicine.

In October 2022, the World Bank's Commodity Markets Outlook projected that the average price of silver would be $21 throughout the year and remain constant at the same level in 2024. According to Trading Economics global macro models and analysts' expectations, the current forecast suggests that silver is expected to trade at $20.02 per troy ounce by the end of this quarter.