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Although the decline in silver production this year has maintained a shortage of supply and demand, the demand for physical silver has also fallen seriously, which has significantly reduced the gap. As for why silver demand has plummeted this year, analysts believe it may be related to the age of investors.
After consecutive years of high production, silver mining volume may fall to 10,000 ounces this year. However, due to rising prices and lower consumer confidence, the demand for jewelry silver coins and silver bars has also been greatly reduced. Physical silver demand has fallen to 10,000 ounces this year. year low. On the whole, although the physical silver market still maintains a state of supply shortage, the gap has shrunk by nearly 10%. Weber, an analyst at Gold Mining Services, said in a report released on Thursday that the silver market is expected to have a physical deficit of 10,000 ounces throughout the year, marking the fourth consecutive year of record supply shortages.
After recording annualized declines for three consecutive years, silver prices have increased by nearly the same amount this year. Amid market fluctuations, rising silver buying and an increase in exchange inventories have contributed to the overall net balance of the silver market. Silver is expected to attract a net inflow of 10,000 ounces this year, while inventories are expected to increase by 10,000 ounces. Therefore, the current market gap is 10,000 ounces, which is the largest since the beginning of the year.
Dalian Precious Metals Spot Trading Center Investment Hotline