FX Street: It's Time to Get Serious About Silver

Article by David Smith in FX Street

The World Silver Survey 2019 Review, the institute’s annual World Silver Survey said that global silver demand hit a three-year high in 2018, surpassing more than one billion ounces, an increase of 4% from 2017.

At the same time, global silver mine production fell for the third straight year, dropping 2% in 2018 to 855.7 million ounces.

The top 10 silver producing countries are: Peru, Bolivia, Australia, Argentina, Mexico, Chile, Poland, China, Russia and Guatemala.

And get this... in every one of these countries, silver production has been falling for the last 4 consecutive years!

• Supply from scrap sources is at a 20-year low.
• Silver fabrication (manufacturing) demand is just below record levels.
• Silver demand for solar panels has risen for six consecutive years - and is expected to set a new record in 2019

In comparison to the roughly 6 billion ounces of gold mined over history, roughly 54 billion ounces of silver are estimated to have been mined over time. In direct contrast to gold, however, roughly half of the mined silver (27.2 billion ounces) is estimated to have been consumed, destroyed or discarded.

I fully believe that what we're seeing in gold and silver is the beginning of what may evolve into the greatest metals' bull market in which you and I have ever participated.

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