KGHM’s Polkowice-Sieroszowice mine. Image: KGHM.
Silver is getting its shine on, with the price reaching $34 an ounce on Monday – an overall 19% increase so far this year, and rivalling in on the performance of its sister metal, gold, up 29%.
Unlike gold, silver benefits not only from a surge in investments into safer assets during times of uncertainty, but also upturns in economic outlook, given the metal’s use in industrial applications.
The Silver Institute projects demand for silver will remain healthy in the coming years, owing to an anticipated rise in consumption for industrial uses such as photovoltaics, electronics and electric vehicles. In 2025, global demand is expected to reach 1.2 billion oz., over half of which from industrial fabrication (700 million oz.).
The Silver Institute is forecasting mine production to reach a seven-year high in 2025, rising by 2% to 844 million ounces,…
