Silver jewellery to bounce back in 2021
Forecasted Increases in Key Markets Silver’s use in jewelry is an important demand source for the precious metal. In 2019, 200.2 million ounces (Moz) of silver were consumed in this sector, which was just shy of the record high of 201.9 Moz posted in 2018. Although silver jewelry consumption currently accounts for 20 percent of total silver demand, it is projected to rise to a quarter of global silver demand by the mid-2020s, further underscoring the popularity and desirability of silver jewelry among leading designers and fashion-conscious consumers. Against this backdrop, a new publication released today by the Silver Institute, Silver Jewelry Report, assesses the current state and prospects of the top silver jewelry fabricating markets, including the U.S., India, Europe and East Asia. The report was produced by Metals Focus, the global precious metals consultancy. The report states that the global silver jewelry market has been negatively affected in 2020 by the COVID-19