8
April
Silver Investor, Industrial Demand Jumped in 2010, GFMS Says
8 April 2011 Bloomberg.com
Silver demand climbed 15 percent to the highest level in at least 20 years in 2010 as investment jumped to a record and industrial usage rebounded from a five- year low, researcher GFMS Ltd. said.
Total demand climbed to 1,06 billion ounces as world investment surged 40 percent to 279.3 million ounces, GFMS said in a report published by the Washington-based Silver Institute. Industrial consumption gained 21 percent to 487.4 million ounces and is “seeing pronounced advances” this year, GFMS said. Prices may climb to $50 an ounce by the end of the year, GFMS analyst Philip Newman said by e-mail today, indicating a 27 percent increase.
