Silver supply-demand trends could catalyze the price
“Silver’s move to US$28.55 wasn’t the only milestone the white metal registered in 2021. Demand for silver exchange-traded products touched an all-time high during Q1, when holdings topped 1.2 billion ounces. Healthy purchases from the investment and industrial segments helped silver demand surpass 1 billion ounces for the first time since 2015.”
USAGOLD note: That buildup at the ETFs – significant as it is – passed without garnering much attention in financial media. Occurring in year one of the pandemic, the very strong 2020 increase in silver ETF stockpiles indicated significant fund and institutional interest in the metal for safe haven purposes.
Chart courtesy of GoldChartsRUs.com