Yet, we are expected to be in another defecit due to mines producing less. Report link below
Highlights:
- Silver demand from industrial applications (60% of demand), is expected to continue to grow this year.
- Jewelry demand is expected to continue its steady increase in 2018 (20% of demand)
- Coin demand in 2017 was minus 50% @ 73 million oz, but is expected to increase this year
- Silver exchange-traded-products (ETP) holdings achieved a record high at 670 Moz at the end of 2017
- India is gobbling up silver +50% in 17, ate up 183 million oz's. about the same demand expected this year
- Global mine supply fell 2% to 870 Moz in 2017
Commentary: Does anyone see the big picture - we are expected to use up over 1,000,000,000 oz's of silver this year, yet mines produced 870,000,000 oz's in 17
Key point taken from all this: Deficit
Read here:
https://www.silverinstitute.org/2018-silver-market-trends/
Sources:
The Silver Institute
Thomson Reuters