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The authors of the report said that global silver demand is expected to reach a new high of 1.21 billion ounces in 2022, up by 16% from 2021, adding that each key segment of demand, except photography, is set to post a new peak. To add more, physical investment in 2022 is on track to jump by 18% to 329 Moz, which would also be a new record. Exchange-traded products, in contrast, are forecast to see the largest annual decline in holdings totaling 110 Moz, due in part to silver’s higher volatility than gold, which has made it more vulnerable to profit-taking.
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