US EditionAverage silver price up 21% in 2024, says Silver Institute
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Average silver price up 21% in 2024, says Silver Institute
Demand for silver in the PV industry hit 197.6 million ounces in 2024, according to a new report from the Silver Institute. It says the average silver price stood at $28.27 per troy ounce last year, up from $23.35 in 2023.Global silver demand decreased by 3% to 1.16 billion ounces in 2024, according to the “World Silver Survey 2025” report, recently published by the Silver Institute. “The impact of US tariffs will be a key risk to silver demand …
Silver Industrial Demand Reached a Record 680.5 Moz in 2024
Silver Industrial Demand Reached a Record 680.5 Moz in 2024 Overall, global silver demand exceeded silver supply for the fourth consecutive year, resulting in a structural market deficit of 148.9 Moz in 2024. Notably, during 2021-2024, the combined deficit reached 678 Moz, equivalent to 10 months of global mine supply in 2024. Silver Institute Thu, 04/17/2025
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