Silver outlook 2018: Demand
Looking at demand, Metals Focus says that silver bar and coin demand is seen recovering in 2018. Meanwhile, demand for silver in jewelry and silverware is expected to grow, but price increases in countries such as India will mean gains will be modest. Industrial offtake is forecast to grow by 2 percent in 2018 and should reach an all-time high on rising demand from the solar and automotive sectors. Demand for silver in solar panels is expected to increase due to the Chinese National Energy Administration’s goal of increasing capacity by 110 gigawatts between 2016 and 2020.
Overall, Ron Tremblay, President and CEO at Levon Resources (TSX:LVN) said he sees the market improving for silver in 2018. He added that investors should “be patient [because] this market will turn.”
For his part, Nicholas Konkin, marketing and communications at Golden Arrow Resources (TSXV:GRG), believes that the silver market is “definitely showing signs of appreciation,” and presents an “interesting buying opportunity for investors to get into the market and position themselves. When the silver market does in fact go up, it will go up in a hurry, and you want to be ready.”
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