Silver is strong as the global market faces a fifth consecutive year of structural deficits. According to the Silver Institute, although supply is expected to increase slightly by around 1%, overall demand is projected to decline by -4%. This deficit is primarily driven by increased investment allocations to silver ETPs, with investors targeting silver as a hedge against geopolitical and macroeconomic risks.
On the industrial front, demand for silver remains high as a vital component of green technology, particularly in the electronics, electric vehicle, and solar panel sectors. However, despite the increase in global PV installations, solar panel manufacturers are increasingly reducing the use of silver per module ("thrifting"), which has slightly curbed the surge in demand in the sector. (az)
The price of silver at the time of this analysis was $50,953.
Disclaimer:
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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