Precious Metals

Silver Institute projects 2019 rebound for silver

The Silver Institute is anticipating a rejuvenated rebound for silver in 2019.

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The expected slowdown in the Federal Reserve’s interest rate hiking cycle “should benefit silver, which in comparison to gold, has a very attractive price point based on the high gold to silver ration of 82 to 1,” according to The Silver Institute.

According to a recently released Silver Institute analysis, “Silver physical  investment demand is likely to increase by approximately 5 percent in 2019. Bullion coin demand has been strong in the United States during January of this year, and we expect sentiment in Europe, which rose by 6 percent in 2018, and India to be supportive of global growth as the year continues. Bullion coin demand in the U.S. fell last year, but non-bullion silver coins rose for the second consecutive year by 42 percent.”

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The Silver Institute survey indicates silver mine production is likely to drop 2 percent over 2019. Modest increases are projected for silver scrap supply from industrial and jewelry sources.

Regarding total supply versus total demand, 2019 is forecast to be the third consecutive year in which all the silver produced is absorbed by end users, according to The Silver Institute.

The Silver Institute anticipates the London Bullion Market Association spot price for silver to average $16.75 per ounce during 2019. The closing London PM spot price for silver on Feb. 4 was $15.75.

The Silver Institute describes itself as “the industry’s voice in increasing public understanding of the many uses and values of silver.”

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