Silver demand hit record high in 2015
Demand for silver hit a record-high last year with the jewellery, coin and bar, and photovoltaic sectors, helping to boost the precious metal’s sales to 1.17 billion ounces.
Overall, however, the market registered its third consecutive annual deficit, which was 60% larger than 2014, shows the latest World Silver Survey published Thursday by GFMS in collaboration with the Silver Institute.
According to the report, the shortage was led by the continued weakness in scrap sales and a sharp increase in physical demand.
Source: 22nd World Silver Survey.
Globally, jewellery making increased for the third consecutive year to a fresh high at 226.5 Moz.
The increase was largely achieved on the back of a 16% rise from both India and Thailand, while North America posted a 5% annual increase..
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