Higher silver supply to reduce global deficit by 4% in 2024

The global silver deficit is expected to fall by 4% to 182 million ounces in 2024, with growth of 2% in total supply offsetting demand growth of 1%, the Silver Institute industry association said on Wednesday. Silver, used in jewellery, electronics, electric vehicles and solar panels as well as an investment, faces the fourth year of a structural market deficit, the Silver Institute said in a review prepared with consultancy Metals Focus.