September 28, 2023 - The Gold Advisor

See Peter Krauth and Ted Butler at the Metals Investor Forum in Toronto February 27-28!

Approaching Peak Silver?

From The Silver Stock Investor | September 2023

In my last few issues I discussed the technologies involved in solar panels, and how they not only need silver, but require increasing amounts of the precious metal. I also examined that increasing demand and why it looks primed to continue climbing unabated for years, if not decades.

In this article I’m going to take a stab at whether we’re going to have enough silver to meet the growing demands being forecast.

First let’s start with what we know.

Back in 2014 industrial demand was 43.6% of total demand. By 2020, that had reached 50%. This year it’s forecast by The Silver Institute to maintain that level of about 50%. Unless investment demand surprises dramatically to the upside, I think that industrial demand will come in a bit higher than the Institute forecasts, probably around 52% or 53%, mainly due to blistering growth in solar panel production.

In fact, Metals Focus, which performs the research for The Silver Institute, has been adjusting its outlook for industrial silver demand in recent updates. In a report from early August, Metals Focus used the headline: “Silver industrial prospects bright as record high PV installations counter

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