The impact of the coronavirus pandemic on most elements of physical supply and demand was significant, with a number of major silver mining countries being affected by the lockdown restrictions, which led to a decline in the supply of silver. However, in a recently released report, the Silver Institute stated that the international demand for silver is set to increase to 1.02 billion ounces in 2021.
This figure is a 15% increase from last year’s figures as well as the first time global demand for the metal has exceeded a billion ounces since 2015. The forecast is a slight drop from the predictions made in…
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