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Green energy effect on silver: Demand for silver may break records

According to the Silver Institute report, the demand for silver, which is the most preferred after gold in the commodity market, may break new records with the support of the increase in the use of solar panels.

Demand for silver is expected to hit record highs this year, supported by increased use of solar panels, according to a report by the Silver Institute.

DEMAND FOR SILVER EXPECTED TO RISE TO 1.1 BILLION OUNCES

Referring to a report compiled for the Silver Institute, consulting firm Metals Focus stated that demand for silver, which is expected to increase by 5% from 2021, will rise to 1.1 billion ounces.

Metal Focus stated that this is the highest level since records started in 2010. The company noted that the market, which had a deficit of 51.8 million ounces in 2021, is expected to run a deficit of 71.5 million ounces this year.

Source: Sabah / Translated by Irem Yildiz

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