by Jason Hommel, Silver Stock Report:
The silver market is tiny. About 700 million oz. of silver are mined each year worldwide. About 200 million oz. recycled. About 100 million oz. from “other” sources, like governments. That’s the supply side. At $20/oz., this is a $20 billion annual market.
On the demand side, most all or more of the silver that is mined each year is consumed and used up by industry. Only 100 million oz. is bought by investors. At $20/oz., that’s $2 billion physical silver bought per year by investors.
These numbers don’t change much from year to year, and two companies produce similar numbers, which you can look up at the silver survey companies cpmgroup.com and silverinstitute.com.
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