In the latest Silver News report published by The Silver Institute, we see how strong industrial offtake is driving global silver demand, which is expected to reach 1.2 billion ounces in 2024. If achieved, this would represent the second-highest level ever recorded. This figure would also establish a new annual high for the industrial sector, according to analysis from the Silver Institute and precious metals consultancy Metals Focus.
Global silver demand is anticipated to increase by 1% , primarily due to a projected record high in industrial demand and a reversal in jewellery and silverware consumption. Industrial demand alone is forecasted to surge by 4% to a record 690 million ounces (Moz), building upon last year’s all-time high.
Read the full report here.
