May 17, 1999
Silver Demand Expected to Rise
Jewelry and silverware manufacturing are two major industries boosting demand for silver this year, according to the CPM Group, a precious metals analyst in New York City.
Use of silver in jewelry and silverware is expected to rise 4% this year compared to 1998. The group also projects increases in the photographic sector (5.2%) and industrial applications (3.3%).
Demand is significantly higher in Italy, Germany and Mexico, and remains healthy in Thailand, where silver jewelry is a major product, and the U.S. The group is also expecting recovery in South Korea and Taiwan. Investment demand is also picking up, with private investors adding small bars and coins to their holdings.
- by Stacey King