Most Above-Ground Silver Is Unavailable to Satisfy Demand

By Mike Maharrey – Money Metals

The silver market is forecast to record a fifth straight market deficit in 2025, with demand once again outstripping supply, and the majority of the existing above ground silver stocks are not available to satisfy demand — at any price.

According to analysis by the Silver Institute, silver price movement doesn’t correlate with changes in above ground stocks.

“Once only a storehouse of wealth, for instance in bars, silverware, jewelry, and coins, items that stay mostly as they were produced – and largely unavailable to the market – silver has become an industrial metal that usually gets consumed or otherwise taken out of circulation except for recycling, whose effect can vary.”

This is bad news given the rapidly increasing demand for silver, especially for industrial use.