There is shortage of silver in world

22.11.2022,15:20


November 22, Fineko/abc.az. The shortage of silver on the world market will reach the highest in several decades due to the growth of demand.

ABC.AZ reports that such an assessment is given by The Silver Institute.

"Having reached the mark of 194 million ounces, the deficit will be the maximum in several decades. The indicator of 2021 will be exceeded 4-fold," the report says.

According to experts, by the end of 2022, the demand for silver will grow by 16% (against 2021), to a record 1.21 billion ounces.

"In every key segment of demand, except photography, a new maximum is expected," the report says.

Experts note that the growth in demand for silver from retail investors will be 18% due to concerns related to inflation, the war in Ukraine and the economic downturn.

According to The Silver Institute, the growth of silver production by the end of 2022 will be 1%.