Silver Market Overview: Supply vs. Demand, Prices (2023–2025) & Beyond

 Supply vs. Demand Dynamics:

-Global silver supply has declined from 1.07 billion ounces in 2010 to 1.03 billion in 2024, with mine production expected to rise slightly to 844 million ounces in 2025 (2% increase), led by China, Canada, Chile, and Morocco.

 -However, supply deficits have persisted since 2021, reaching 184.3 million ounces in 2023 and 215.3 million in 2024, projected to continue into 2025 due to declining ore grades, environmental regulations, labor shortages, and geopolitical issues in Mexico. Recycling, contributing 20% of supply, hasn’t offset the shortfall.

 -Demand remains strong at 1.20 billion ounces in 2025, driven by industrial uses, particularly green technologies. Industrial demand is set to hit 700 million ounces in 2025, with solar panels (232 million ounces in 2024, up 20%) and electric vehicles (2.9% of demand) leading the surge.

 -Jewelry and silverware demand may dip slightly in 2025, but retail investment and safe-haven demand, spurred by geopolitical tensions and U.S. tariff policies, remain robust. The ongoing deficit, with declining global reserves (down 4% in 2021), supports bullish price trends.

Silver Prices (2023–2025): -In 2023, silver averaged $23.14 per ounce. In 2024, prices climbed to $31.97 by September, peaking at $34.72 in October (40% yearly gain), averaging $28.27, though dipping to $28.94 by December due to economic uncertainties.

 -In 2025, silver hit $29.53 on January 2, broke $30 on January 7, reached $32.94 by February 20, and settled at $35.66 by June 5, driven by supply deficits, industrial demand, and geopolitical factors.

 Expert Predictions to 2030 and Beyond:

-Analysts are bullish, forecasting $36–$42 per ounce by end-2025, with UBS predicting $38.

 -GoldSilver’s Alan Hibbard eyeing $40 in 2025 and $52.50+ in 2026.

 -InvestingHaven sees silver hitting $50 by 2026.

 -By 2030, mainstream forecasts range from $60–$85, with CoinPriceForecast at $80 and InvestingHaven at $88, driven by supply deficits and industrial demand (solar and EVs).

 -Optimistic projections include $100–$225, with outliers like Peter Krauth suggesting $300 if gold reaches $5,000.

 -Extreme forecasts like $337.82 by 2030 are criticized as unrealistic but time will tell.

 Key Factors -Industrial demand, especially for solar (35% of supply by 2030), EVs, and electronics, is a major driver.

-Supply constraints, including declining reserves and geopolitical risks in Mexico, exacerbate deficits.

-Economic factors like lower interest rates, a weaker dollar, and geopolitical tensions boost safe-haven demand.

-The gold-to-silver ratio (92:1 in March 2025 vs. historical 8–19:1) suggests silver is undervalued.

For shareholders of junior and major silver miners, this bullish outlook signals exciting opportunities. Rising prices and growing demand for silver in solar, EVs, and electronics enhance the value of exploration projects, potentially attracting investment and boosting valuations.

 Junior miners, often nimble and focused on high-potential deposits, are well-positioned to capitalize on tightening supply and depleting reserves, particularly in regions such as Mexico and Canada.

Investors should stay informed on economic and geopolitical trends while conducting thorough research to seize this promising moment for Junior silver explorers.

 SP

 Comment below, share your thoughts and give a repost.. Thanks:.

“For information purposes only and not a recommendation to buy or sell shares”.

Mining News: www.minestockers.com (Disclosure: the writer is a shareholder in minestockers.com)


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