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Silver Price Target $32.26
18 April 2023US Economy In Trouble
25 April 2023The Silver Institute is the leading source of information on anything silver in the world. They have a highly skilled focus group based in London consisting of leading metals researchers who is responsible for the annual silver supply/demand data we all need for our investment decisions.
This data can be seen here.
For your convenience I have made a summary of the most important pieces of information.
The physical silver shortage has reached an all time high of 237.7 million ounces. This is the highest deficit ever recorder.
Demand is up to 1.21 million ounces which is 18% higher than in 2021.
Supply was only 1.002 million ounces.
Analysts expect a massive shortfall of 142.1 million ounce for 2023
The report noted that industrial demand will rise from 556.5 million ounces in 2022 to 576.4 million ounces in 2023.
Jewelry demand is up 29% from 234.1 million ounces in 2021 to 234.1 million ounces in 2022
An article on Kitco gives more detail should you want to read it.
The best way to own physical silver is to invest in silver bars and silver Krugerrands. Do not wait till the prices start to run because it will be too late as the stock will dry up and premiums will soar.