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Global Silver Demand Rises to a Record High

The Silver Institute

November 2022

Category: Invest

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Demand for silver is predicted to reach a record total in 2022, driven by new highs in industrial use, jewellery, silverware and physical investment. 

A new report from The Silver Institute, Metals Focus and Mine Supply shows that global silver demand is set to reach a new high of 1.21bn ounces this year – an increase of 16% from 2021. Almost half this figure (539m ounces) is expected to come from industry, where – despite slow vehicle sales – ongoing vehicle electrification, growing 5G technologies and increasing green infrastructure is expected to push up demand.  

 

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Physical investment is predicted to jump to a new record of 329m ounces, whilst silver jewellery (235m ounces) and silverware (73m ounces) are set to surge. 

To read the full report, click here. 

 

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