The Future is Bright for Silver

With the sustained physical demand for the metal throughout 2023, silver has managed to maintain the high post-Covid price levels and this past week has been pushing the $24/oz mark, close on £19/oz for the UK market.

According to the Silver Institute, demand for silver in 2022 has been predicted to reach a record 1.21 billion ounces, up by 16% on 2021. With its excellent electrical conductivity, the use of silver continues to grow as the adoption of green technologies such as solar panels and electric cars rely on the white metal for electrical component parts – a typical solar panel contains as much as 20 grams of silver.