“Silver Market Trends in 2019”
October 14, 2019
“Silver faced a profusion of fundamental headwinds in 2018. Overall, silver supply edged up approximately by 0.3% while demand contracted by 3%…
Bear in mind that 60% of silver demand comes from industrial fabrication. We expect this figure to rise across most sectors in 2019.
Silver for electrical and electronic applications and for brazing alloys and solders–this form of industrial demand is, once again, on an uptrend.
Much of this rise is attributable to increasing demands in the automotive sector, where multiple applications for hybrid and electric vehicles are dependent on silver as a critical component.
In addition to this, there is growth in silver usage across other various other sectors including LED lighting, chemical applications, water purification, electronics and screens, and textiles…
As in years past, India is expected to remain the largest global consumer of silver. Just take a look at their 2018 which was 35% higher than the previous year, topping at nearly 225 Million ounces…
Silver mine production from primary sources is down and expected to decrease further by -2% in 2019…
So what does this mean for silver prices?…
Analyst forecasts range widely, from a meager 7% average to figures within the $21.50 to $26.00 range…”
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