Jewellery demand is forecasted to grow by 6%, led by India, according to the Silver Institute and Metals Focus, a precious metals research consultancy based in London. India is expected to drive most of the increase, benefiting from a positive economic outlook and consumers becoming accustomed to higher silver prices in rupees. In contrast, soft consumer sentiment in the US and Europe may dampen jewellery consumption, but retailers restocking is likely to offset the impact.<\/p>\n
Silverware fabrication is also anticipated to rise by 9% as demand normalises, particularly in India.<\/p>\n
However, silver physical investment is projected to decline by 6%, primarily in the U.S., due to solid economic growth and gains in the stock market reducing investor interest in precious metal coins and bars, the Silver Institute said. Modest recoveries are expected in India and Europe, where investors may seek bargains amidst price fluctuations.<\/p>\n
Despite these fluctuations, the global silver market remains dynamic, driven by a combination of industrial, jewellery, and investment demands.<\/p>\n
Meanwhile, global silver demand is forecast to reach 1.2 billion ounces in 2024, which, if achieved would be the second-highest level recorded. Stronger industrial offtake is a principal catalyst for the rising global demand for the white metal, and the sector should hit a new annual high this year.<\/p>\n
Total global silver supply is forecast to grow by 3% in 2024 to an eight-year high of 1.02 billion ounces, entirely led by a recovery in mine output. Silver mine production in 2024 is projected to rise 4% to 843 Moz, the highest level since 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"
Jewellery demand is forecasted to grow by 6%, led by India, according to the Silver Institute and Metals Focus, a precious metals research consultancy based in London. India is expected to drive most of the increase, benefiting from a positive economic outlook and consumers becoming accustomed to higher silver prices in rupees. In contrast, soft…<\/p>\n","protected":false},"author":1,"featured_media":24687,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-24686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n