Silver deficit 57.7 million ounces in 2015
Adam Pike, News Editor
29 Jul 2015, 11:10 a.m.
Since hitting an all-time high of £29 per ounce in 2011 the silver price has been in the doldrums. However, the fundamentals for silver have never been better. In their latest report the Silver Institute states that the silver market will experience a 57.7 million ounce deficit in 2015, largely due to a surge in retail demand.
Industrial demand has also been strong with the solar industry using 8% more silver than in the corresponding period in 2014. Demand from ethylene oxide producers and the electronic industry also rose in 2015.
In the first 6 months of 2015 total global investment demand reached 43.6 million ounces. Demand has been so high that the U.S. Mint and Australian Perth Mint have temporarily suspension coin sales.
From the Institutes latest report it is clear silver demand remains robust, however, the price continues to trend downwards.