Global silver deficit23 Nov 2022 08:28
https://www.rt.com/business/566760-global-silver-deficit/
???? World headed for silver deficit
Global consumption is expected to rise sharply by year’s end, resulting in the biggest demand-supply gap in decades
The world is on the brink of a major silver supply shortage this year, the Silver Institute, a US-based agency monitoring the metal, said in its latest report.
Global demand for silver from industrial consumers, manufacturers of jewelry and housewares, and retail investors is expected to rise a record 16% against last year to a new all-time high of 1.21 billion ounces by the end of 2022, according to the report published on the agency’s official website.
As a result, the silver market is facing a multi-year deficit of 194 million ounces of the metal, four times the level seen in 2021 (48 million ounces). Silver inventories in storage in London and New York that are tracked by COMEX and the London Bullion Market Association (LBMA), were already down about 370 million ounces, or 25%, so far this year.