Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
In the same category

World Silver Survey 2012 confirms bullish picture

IMG Auteur
 
Published : April 27th, 2012
408 words - Reading time : 1 - 1 minutes
( 2 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

 

 

 

The Silver Institute's "World Silver Survey 2012" report hasn’t surprised investors and market participants. Silver mining output hit record highs last year, while silver demand from end users and investors remained robust – despite silver's correction phase which started close to a year ago. The Silver Institute is one of the most important organisations in the silver sector, comprising producers, dealers and numerous companies that use silver. Thus, this study is of significance.

Although global investment demand dropped slightly to 282.2 million ounces (8,766 tonnes) this marginal decline isn’t too consequential, since in 2011 silver registered a higher average price than in the previous year. As a consequence, the financial value of global silver demand reached a new record high of almost $10 billion – a 73% increase on the previous year. Demand for silver coins and medals climbed by 129% to a new record high of 118.2 million ounces (3,677 tonnes). In comparison with 2010 demand for silver bars increased 67% to 95.7 million ounces (2,975 tonnes).

Currently the silver price is moving in a fairly narrow trading range, oscillating around the $31.50 per ounce mark, which is an important resistance level. As the study shows, high investment demand last year was largely triggered by investors' increasing fears of a continuing devaluation of the US dollar and the euro. Many investors are keeping a close eye on the central banks and their moves – especially the US Federal Reserve (Fed) and the European Central Bank (ECB). Fears of continuous global debt monetisation are driving more and more investors to buy gold and silver.

Demand from industrial end users also recorded impressive gains last year. Although towards the end of 2011 demand from industrial clients – which include the jewellery, electronics and medical industries – dropped slightly owing to economic problems in the eurozone, the study by the Silver Institute forecasts a continuation of silver's upward trend for 2012. In the face of growing silver demand at the global markets and a rapid price appreciation it comes as no surprise that global mining companies significantly increased silver production for the reported period.

Exploration activities by junior mining companies and the recovery of mines which had been in disuse contributed to this increase in global silver supply – 2011 being the ninth year of mine supply increases. In comparison with the previous year mine production climbed 1.4% to a new record high of 761.6 million ounces, or 23,689 tonnes.

 

 

Thanks to Goldmoney from www.goldmoney.com
Companies Mentionned : Robust |
<< Previous article
Rate : Average :5 (2 votes)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Iran Agreement Boosts Peace, Def...
26 Julkeith95
How about the US invading Afghanistan in 2001, Iraq in 2003 ... leading to the current unrest in the middle east while supporting the 'Saudi's' ......
Take Possession of IRA Metals We...
24 Julericgolub
Internal Revenue Code 4975 language suggests that whether the gold is held directly by the IRA or by an IRA LLC (which is nonetheless still subject...
Gold Miners Nearing Rebound
24 Julsonora69
Silver has already made a 50 cent down and up round trip as of 3:30. This is happening on a Friday, with the stock markets failing to make an advan...
Why Pensions Are A (Big) Black Swan
25 JulS W.1
No (pensions) are not a black swan, which is totally random unforeseen event.
Iran Agreement Boosts Peace, Def...
23 Julsonora69-2
Doesn't anyone remember the Iran hostage crisis, when Iran held 52 American diplomats and citizens hostage for 444 days in 1979-1981. How about 198...
What Do Greece and Louisiana Hav...
23 Julovertheedge
"The US financial system isn’t any better. ... , Actual currency is just a little over $1.36 trillion. ..." And it is assumed that about h...
Why Are We Here?
23 Julovertheedge1
No "woe is me" here. Just another buying opportunity. Using leverage is not buying, it is borrowing. It ain't bought til it's paid off....
Are Gold Investors Finally Capit...
21 JulDoom
I just don't see capitulation as a possibility. IF you sell gold, you get...what, paper money? Paper money loses a few percent (or more) of it's va...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
Tinka Resources(Ag)TK.V
commences 10,000 metre drill program at Ayawilca zinc project, announces new IP results & tar
CA$ 0.16+6.45%Trend Power :
Corporate news
Sandstorm Gold(Cu-Mo-Au)SSL.V
Files Early Warning Report
CA$ 3.12+3.65%Trend Power :
Corporate news
Crown PointCWV.V
Provides Operational Update and Announces Executive Change
CA$ 0.14+3.85%Trend Power :
Corporate news
Cardero Res.(Ag-Au-Cu)CDU.TO
Announces Acquisition of the Advanced Zonia Copper Oxide Project in Arizona
CA$ 0.01-50.00%Trend Power :
Corporate news
Vista Gold(Cu-Le-Zn)VGZ.TO
. Announces Receipt of an Additional A$5.9 Million Net Tax Refund Under the Australian Govern
CA$ 0.37+2.78%Trend Power :
Corporate news
First Majestic(Le-Zn-Au)FR.TO
announces friendly acquisition of Silvercrest Mines
CA$ 4.12+2.49%Trend Power :
Corporate news
Sterling Res.(Oil)SLG.V
Announces Appointment of Strategic Financial Adviser
CA$ 0.18+9.37%Trend Power :
Nominations
Polaris MineralsPLS.TO
Materials announces the opening of its aggregate terminal in the Port of Long Beach, Californ
CA$ 1.98-8.76%Trend Power :
Corporate news
Endeavour Financial(Ag-Au-Co)EDV.TO
Mining to release Q2 results on July 30, 2015
CA$ 0.48+2.13%Trend Power :
Corporate news
Premier Gold Mines(Au)PG.TO
confirms current Reserves & Resources at South Arturo
CA$ 1.88+0.53%Trend Power :
Corporate news
Comments closed