Silver high for the fourth consecutive year

 

Average silver price jumped by 21 percent in 2024! 

Silver industrial demand rose 4 percent in 2024 to 680.5 million ounces (Moz), reaching a new record high for the fourth consecutive year. Demand continued to benefit from structural gains linked to the green economy, including investment in grid infrastructure, vehicle electrification, and photovoltaic (PV) applications. Demand was further boosted by end-uses related to artificial intelligence (AI), which drove growth in consumer electronics shipments.

Overall, global silver demand exceeded silver supply for the fourth consecutive year, resulting in a structural market deficit of 148.9 Moz in 2024. Notably, during 2021-2024, the combined deficit reached 678 Moz, equivalent to 10 months of global mine supply in 2024.  

These and other key aspects of the 2024 silver market are examined in the World Silver Survey 2025, released by the Silver Institute. The 88-page Survey also provides an outlook for the silver market in 2025. The Survey was researched and produced for the Silver Institute by Metals Focus, the London-based independent, precious metals consultancy.  

Key findings include, 1: Silver Demand, 2: Silver Supply, 3: Outlook for Silver in 2025 & 4: Silver Price. The World Silver Survey 2025 say for the Silver Price that the, average silver price jumped by 21 percent in 2024. The start of 2025 saw further gains, with silver exceeding $34 by mid-March amid rising uncertainties surrounding US trade and foreign policy. Thereafter, the silver price has weakened, following the US tariff announcements. Even so, as of April 7, the silver price was still up four percent for this year-to-date.






Comments

Post a Comment

Popular posts from this blog

C.R. Patil & Harsh Sanghvi visits the BDB!

Image
  World’s largest functional bourse hosts the delegation   Bharat Diamond Bourse (BDB) hosted two prominent dignitaries C.R. Patil, Union minister of Jalshakti, Government of India and Harsh Sanghvi, Minister of Home, Industries, Transport, Youth & Sports, Government of Gujarat for a tour of BDB, which is today the largest functional Diamond Exchange in the world.   Kirit Bhansali, Chairman, GJEPC, Anoop Mehta, President BDB, Mehul Shah, Vice President BDB were present during the welcoming ceremony of dignitaries. The honorable Harsh Sanghvi went to Ayambi Oli, a religious event where over 2000 devotees were having ambil. Sanghvi served food to devotees. Later they visited GJEPC office and toured the newly opened Customs department and logistics area, post which Bharat Shah invited the ministers to Mumbai Diamond Manufacturers Association and gave a firsthand view of the MDMA along with facts on employment offered to people as well as access to traders who reg...
Read more

India kept Check & balances on Gem & Jewellery Import

Image
  Global scenarios have impacted India’s GJ exports 2024-2025   India’s overall gross exports of Gem & Jewellery (GJ) remained at US$ 2582.97 million (Rs. 22340.89 crores) in the month of March 2025 is showing a growth of 1.02% (5.24% in Rs. term) as compared to US$ 2556.97 million (Rs. 21228.71 crores) for the same period previous year.   The overall gross imports of Gems & Jewellery in India registered at US$ 1939.30 million (Rs. 16783.49 crores) in month of March 2025 is showing a decline of 7.20% (-3.26% in Rs. term) as compared to US$ 2089.76 million (Rs. 17349.51 crores) for the same period previous year. Looking at the whole year’s activities for the period of April 2024 to March 2025, overall gross exports of Gems & Jewellery-India at US$ 28500.08 million (Rs. 241089.50 crores) is showing a decline of 11.72% (-9.82% in Rs term) as compared to US$ 32283.05 million (Rs. 267350.83 crores) for the same period previous year.    Equally, at...
Read more

BDB mark Fire Service Week & pay tribute!

Image
  Joins this year’s theme, Unite to Ignite: Fire Safe India   Every year, 14th to 20th April is marked as Fire Service Week across India, paying heartfelt tribute to the brave hearts who have laid down their lives in the line of duty—protecting people, property, and our cities from the fury of fire. This year’s theme, “Unite to Ignite: Fire Safe India,” resonated with powerful energy as Maharashtra’s fire safety initiatives set the city ablaze with awareness, action, and admiration.     The Mumbai Fire Brigade and the Directorate of Maharashtra Fire Services led this vital week with a range of informative, educational, and hands-on activities to strengthen public and institutional preparedness. Among the many institutions that stepped up with remarkable enthusiasm was the Bharat Diamond Bourse (BDB)-Diamond Centre of the World, proving once again that Fire Safety is not just a Responsibility, but a Commitment deeply embedded in their Culture.   Bharat Diam...
Read more