Silver loses almost 15% from its 12-year high in October “According to the report, Silver demand should increase by 1% to 1.21 billion ounces, reaching the second-highest level since records began. However, in the spring, the Silver Institute and Metals Focus were still expecting somewhat stronger demand. Industrial demand is expected to increase by 7% to a record level, driven by electrical and electronic applications. Increases are also expected for jewellery and Silverware.
Both rising mine production and a stronger supply of Silver scrap are contributing to the higher supply. The latter is expected to reach a 12-year high, reflecting the higher price level. This year, the Silver market is expected to show a supply deficit for the fourth year in a row, which at 182 million ounces is likely to be considerable again.” “In spring, however, the Silver Institute and Metals Focus had expected an even larger deficit.
Belgique Dernières Nouvelles, Belgique Actualités
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