Prospector News Michael Fox talks with Michael DiRienzo, Executive Director of the Silver Institute about their recent 2022 review and 2023 forecast. 2022 was a record year for silver demand with high marks set across nearly all uses.
2023 although faces some headwinds in demand across several areas, but 2023 should still be the second highest year of demand on record. Headwinds include stalling demand for silver jewelry and utensils for the Indian markets and slowing demand related to recessionary pressures due to rising interest rates.
Finally we discuss potential “Black Swans” that could put a crimp in the supply side such as the turmoil in Peru the World’s 3rd largest silver supplier. We also discuss White swans that may inverse demand such as a more rapid expansion of green energy.
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