Silver’s Record Industrial Demand and Deficit to Underpin Prices

By Yvonne Yue Li – Bloomberg

After a strong start to the year, silver should remain supported by record industrial usage and a supply deficit, according to the Silver Institute.

Industrial consumption hit an all-time high in 2023 and is expected to expand another 9% this year, driven by green-related applications such as solar panels, the institute said in its World Silver Survey report on Wednesday. That will help the metal record a fourth straight annual supply shortage.