This week I have prepared a Silver macro data analysis with diagrams and added a technical outlook for "dessert".
Supply and Demand
Chart: Aibek Burabayev; Data source: GFMS, Thomson Reuters / The Silver institute
Back in 2005, both supply and demand for Silver were below 1 billion ounces (Boz) and were well balanced with a small deficit of 7.3 million ounces (Moz). Since then they have risen with different speed and in 2014 both broke up that level. As seen on the chart above, the supply of Silver is quite stable with a narrow 889-1073 Moz range in past 10 years. 2010 (growth in mining and scrap supply) and 2014 (10 year record mining production) are the highest years of supply. [Read more...]