|
In its 2026 World Silver Survey, the Silver Institute reports that the global silver market ran a deficit of 40.3 million ounces in 2025. While smaller than the peak of 254.0 million ounces in 2022, it marks the fifth consecutive annual silver deficit. The narrowing deficit in 2025 is due to a 6.9% year-over-year increase in global supply and a 2.3% year-over-year decline in global demand. That said, the Silver Institute projects a sixth consecutive annual deficit in 2026, as structural demand pressures outpace supply.
|