Silver Price Plummets Amid AI Data Center Boom

The price of silver has plummeted to around $58 per ounce after hitting a peak of over $115 in January this year.

This decline comes despite predictions that global data center spending could reach $7 trillion by 2030, driving up demand for the metal.

McKinsey estimates that the massive AI data center build-out will require enormous amounts of silver, copper, memory chips, and other inputs.

Some investors believe this trend justifies buying the current dip in silver, but others caution against investing in iShares Silver Trust, which has fallen since a previous recommendation to buy the metal.