Industrial demand for silver to set new record high in 2024 as market sees fourth straight annual supply deficit – Silver Institute
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The Silver Institute forecasts a new record high for industrial silver demand in 2024, marking the fourth consecutive year of supply deficit in the silver market.
November 13, 2024 | 12:15 am
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POSITIVE IMPACT
The Silver Institute's forecast of record-high industrial demand for silver in 2024 and a continued supply deficit could positively impact the Global X Silver Miners ETF (SIL), which tracks silver mining companies.
The forecasted increase in industrial demand for silver and the ongoing supply deficit suggest a potential rise in silver prices. This could benefit silver mining companies, which are tracked by the SIL ETF, leading to a positive impact on its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80