Demand for Silver for Use in Jewelry & Silverware Increases

August 1998

Precious Metals:Data & Statistics

Demand for Silver for Use in Jewelry & Silverware Increases

Jewelry and silverware led an increase in silver demand in 1997 and are expected to do the same this year. That's the word from the CPM Group, which produces reports on all precious metals.

In fact, jewelry and silverware now comprise the fastest- growing major silver-using sector, rising 7.7% to 282.3 million ounces in 1997.

The U.S. and Western Europe reported steady growth in 1997, while demand from emerging markets – especially in Asia – posted record highs.

Because of the current financial problems throughout much of Asia, growth in silver demand should be lower this year. It's projected to rise only about 3% to 290.2 million ounces.

Copyright © 1998 by Bond Communications.


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