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Physical Silver Investment Increasingly Important to Global Silver Demand
Physical investment is a structurally important part of global silver demand, and the most volatile. Notably, over the past 15 years, physical silver investment has ranged between a low of 157.2 million ounces (Moz) in 2017 and a record high of 337.6 Moz, established in 2022. With growing geopolitical tensions, rising government debt, and an increasing investor perception that silver is undervalued compared to gold, the silver price has experienced a 34 percent year-to-date increase. By comparison, the white metal is outperforming gold, which is up 28 percent, and Bitcoin, rising 18 percent year-to-date. To gain a ... (full story)