This article discusses the latest silver and gold prices as well as the mechanics of taking delivery of futures versus physical metals. He also reviews the amount of precious metals investors should consider holding in their portfolios and provides insight into optimal allocations. Finally, he talks about the recent spike in global political tensions and the implications for the price of gold and silver.
Increasing consumer preference for silver bullion as an investment asset is driving market growth. The growing industrial demand for silver in the electronics and solar energy sectors is another factor fueling growth. In addition, rising concerns about economic uncertainties have led to increased investor interest in silver as a hedge against inflation and currency fluctuations.
The global silver market is segmented by application, form, and region. On the basis of application, the market is divided into silverware, jewelry, industrial and investment purposes, photographic films, electrical and electronics, pharmaceuticals, food and beverage, clothing and textile, and personal care and cosmetics. Silverware accounts for the largest share of the market, owing to high consumer demand for silverware in countries like India and China.
Based on form, the global colloidal silver market is categorized into liquid and powder. The liquid segment accounted for the leading share in the market in 2023, mainly due to growing demand for silver-based health supplements and cosmetics. In addition, growing popularity of e-commerce platforms for online sales has opened up new channels of distribution for silver products, thereby boosting growth in the market.
Silver iodide is an essential raw material for various applications including silver nitrate, photosensitive materials, antiseptic material, and cloud seeding. The silver iodide market was valued at USD 416 million in 2020 and is projected to reach a value of USD 2 billion by 2023.
Increasing adoption of solar cell technology in the solar energy sector is fueling growth in the silver demand from the solar market. However, the trend is expected to wane in 2024 as manufacturers find ways to reduce their dependency on silver.
The silver market is further segmented by end-use industry and country. In terms of industry, the market is categorized into jewelry and metallurgy, industrial products, photographic film, investment, and others. In terms of country, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The report includes a detailed analysis of the key factors influencing the growth of the global silver market. The key factors include silver production and consumption, regulatory policies, and demand for silver-based products in different regions of the world. The market analysis also covers the opportunities available for the key players in this space. The report offers a 10-year forecast, presenting possible scenarios of silver market development and supply/demand trends. This can assist companies in their strategic planning processes. For more details on silver market click here.