World Silver Institute: The global silver market will be in a supply deficit for the sixth consecutive year

ME News, April 15 (UTC+8), The World Silver Survey released its annual outlook on Wednesday, maintaining the previous view that the global silver market will experience a supply shortage for the sixth consecutive year. The report indicates that the supply gap is expected to widen by 15% to 46.3 million ounces in 2026. Despite an 18% increase in demand for silver bars and coins, demand from industrial, photography, jewelry, and silverware sectors has declined, with total consumption possibly decreasing by 2%. Supply is projected to decrease by 2%, mainly due to a slight drop in mining output and reduced hedging, partially offset by a 7% increase in recycling. The report states that although the Iran conflict casts a shadow over short-term price prospects, there remains a “constructive outlook” for silver for the rest of 2026. The association expects the Middle East conflict to be contained, and that tightening monetary policy to curb energy inflation will be temporary. Even if the war persists, concerns over weak growth and fiscal tightening may lower real bond yields, thereby boosting interest in non-yielding precious metals like silver and gold. The report notes, “The revival of safe-haven demand alongside cyclical market liquidation is likely to rekindle interest in gold and silver.” (Jin10) (Source: ODaily)