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Silver jewelry demand increasing

ByVictoria

Industrial silver demand set a record last year, but despite the increase in offtake, overall silver offtake declined by 3 percent to 1.16 billion ounces, primarily due to weak investment demand.

Silver jewelry demand grew by 3 percent to 208.7 million ounces in 2024.

The Silver Institute reported that improving exports to key Western countries also lifted silver jewelry demand.

Growth in demand for silver jewelry will likely contribute to increasing overall demand, putting further pressure on already limited silver supplies.

Source – Money Metals

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