Almost a year ago gold and silver reached an all-time high of 124 points, and since then silver has separated from gold. However, both are currently averaging 50% of their all-time highs.

Phillips Baker, CEO of Hecla Mining, the largest silver producer in the United States, said silver is just beginning its move. He also said he considers it a new techno metal because of the industrial demand it is beginning to see.

"Silver is in a position it's never been in before. It's not because of the pandemic or because of the tax and monetary incentives we're getting," he said.

Baker said the global push to produce clean energy will be huge for silver. He said that over the next 20 years the demand for silver could increase to 600 million ounces. "Silver is a truly unique metal. It has characteristics that no other has," he said.

Also, since there have been no new mining developments in recent years, it is quite possible that supply will not meet demand in the next few years. This would increase its price even more.

It is necessary to keep an eye on silver and the new projects that are coming. For long term investors, this is a very good opportunity.

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