Gold prices are up slightly Thursday morning. Today, the U.S. will release economic data, including the weekly MBA mortgage applications survey and the DOE’s weekly report on liquid energy stocks. As the week progresses, traders and investors are showing an increased appetite for risk, which negatively impacts the appeal of safe-haven metals. The price of gold is trading at $2,506.54, up $5.08. The price of silver is trading at $29.40, down 57 cents.

Samsung’s new silver solid-state battery technology, as highlighted in a report by The Silver Academy, promises to revolutionize the transportation industry. These batteries offer several advantages over traditional lithium-ion batteries, including reduced weight, increased safety, simplified material requirements, and potential for lower costs. The adoption of this technology could lead to a surge in silver demand, potentially reshaping the global silver market. The report suggests that widespread use of silver batteries could significantly increase silver prices and alter the dynamics of silver mining and recycling industries.

The applications of silver solid-state batteries extend beyond passenger vehicles to include buses, trains, and airplanes, which could reduce emissions and improve efficiency across various transportation sectors. The report estimates that the annual demand for silver could rise by up to 25,400 metric tons if this technology is widely adopted. This increase in demand could lead to a 101% rise in silver production, putting pressure on existing mining infrastructure and potentially driving up silver prices. Such developments could result in increased mining activity, investment, and job creation, as well as new opportunities in silver recycling to support sustainable resource use.