by Clint Siegner
Silver Seek
The Silver Institute released its 2024 World Silver Survey
last week. According to the data, silver demand outstripped supply in 2023, for the fifth year in a row.
The deficit was just over 142 million ounces. And the forecast for 2024 indicates that the annual production shortfall will nearly double to 265 million ounces.
Silver prices have finally begun playing some catchup to gold. Perhaps speculators in the futures market have finally begun paying attention to fundamentals like supply and demand.
The overall supply deficit is corroborated by another data point. COMEX vault inventories of silver are also in decline.