The annual demand for silver will increase by almost 90 percent by 2035, according to U.S. banks in new infographic by Kryptoszene.de.
Annual global demand for silver amounts to 2,300 tons. By 2035 this is set to rise to 4,300 tons. One of the main drivers of demand is increased requirements from the solar energy industry.
More and more investors are putting their money into silver ETFs. Silver assets held in such funds increased by 9,237 tons over the first three quarters of 2020, compared with 3,203 tons in the same period last year. The price of silver is currently quoted at $24.30 per troy ounce — an increase of 63.3 percent since March, when it stood at $14.88 per troy ounce. The price of physical coins has risen even more sharply. A comparison with other assets underlines this success: The price of crude oil has dipped by 33 percent since the beginning o