Weekly Silver Review: Futures Soar Above $20 Per Ounce

5 Nov 2022 , 11:57 AM

COMEX Silver futures moved up well above $20 per ounce though the overall trend remained volatile on broad strength in the US dollar and ideas that the tight monetary policy will hurt the demand for industrial metals. There are indications of good demand from Indian retail buyers though, capping downside for the white metal. Long term scenario looks good for the silver prices. A latest update from ResearchAndMarkets stated that the global silver demand is expected to reach 1,196 million ounces in 2026, at a CAGR of 2.97%, for the time period of 2022-2026. While, the silver supply is likely to be recorded as 1,061 million ounces in 2026, increasing at a CAGR of 1.24%, during 2022-2026. Powered by Commodity Insights