Silver is a metal with unique properties including its strength, malleability and ductility. It is also characterized with electrical and thermal conductivity, sensitivity to and high reflectance of light and the ability to endure extreme temperature ranges.
The versatility of silver leads to few substitute metals in most of its applications, particularly in high-technology uses in which reliability, precision and safety are critical.
Silver is used in all our lives daily, from our cell phones to our personal computers.
You can find Silver in automotive batteries, satellites, high tech weaponry and digital technology, among others.
Demand for silver consumed by the photovoltaic industry has been driven by a tremendous increase in the uptake of renewable energy. Silver is used in the solar panels employed for photovoltaic power generation.
Silver is used in Biocidal applications; these are already in use across a diverse array of products from medical instruments to glass and playground equipment. Antimicrobials containing silver are used in textiles for odor, discoloration prevention, hygienic plastic, and other applications.
You can find silver in
Insulation & energy reduction
Jewelry & silverware
Silver oxide batteries
Supply & Demand
|Net Government Sales||15.6||44.2||12.0||7.4||7.9|
|Net Hedging Supply||-17.4||50.4||12.2||-47.0||-41.3|
|Coins & Bars||87.9||146.1||212.6||139.3||245.6|
|(+) Industrial Fabrication||540.2||643.2||624.8||589.1||586.6|
|Of which Electrical & Electronics||203.1||272.6||260.6||237.0||233.9|
|Of which Brazing Alloys & Solders||53.3||60.6||62.4||60.3||62.4|
|Of which Photography||78.4||68.8||61.7||54.4||50.4|
|Of which Other Industrial||205.4||241.2||240.0||237.4||240.0|
|ETF Inventory Build||153.8||132.6||-24.0||55.1||1.6|
|Exchange Inventory Build||-15.3||-7.4||12.2||62.2||8.8|
Silver Demand (Moz)
Physical silver demand touched record levels in 2013 as investors took advantage of lower prices to increase coin and bar holdings in particular.
Jewelry demand remained remarkably robust, growing at 7% year-on-year. It reached a record high in 2013.
Coins & medals fabrication surged by 38% to a new high of 119 Moz (3,684 t).
Global silverware fabrication rose by 12% to a three year high of 50 Moz (1,556 t) in 2013.
2013 Silver Demand (Moz)
Industrial Fabrication Applications (587 Moz)
Silver is the pre-eminent electrical and thermal conductor of all metals, which makes it essential in many electrical applications.
Jewelry (199 Moz)
Pure silver does not tarnish easily but to make it durable for jewelry it is often alloyed with small amounts of copper. It is also widely used with base metals in gold alloys.
Coins and Bars (246 Moz)
Historically, silver was more widely used in coinage than gold, being in greater supply and of less value, thus being practical for everyday payments.
Silverware (50 Moz)
Sterling silver has been the standard of silverware since the 14th century, particularly in the manufacture of "hollow-ware" and "flatware".
Ounces Total Demand
Total Mine Production
Silver Supply (Moz)
Mine Supply by Region (tons)
As a precious metal, silver has become an investment of choice for those who recognize its traditional role as a safe haven asset.
Coins & medals – 75% increase in purchase of bars and coins
ETF inventory – Growth in silver ETF inventory slowed