Option Trading Partners – #Commodity News
The Silver Institute recently reported that jewelry demand was strong for the grey metal in the first half of 2015. (Source: The Silver Institute, July 28, 2015.)
In the #United States, consumer demand for silver jewelry has been rising. Until the end of May, silver jewelry imported to the U.S. surged 11%. Moreover, in dollar terms, the U.S. is the largest importer of silver jewelry.
Americans’ surging demand for silver resulted in more grey metal shifting from the East to the West. By the end of May, U.S. imports from Thailand and #China jumped up 18.5% and 14.0%, respectively.
The solar industry is giving a big boost to silver demand. Silver is a crucial part in the making of solar panels as it is used to conduct electricity out of solar cells. The use of silver in the manufacturing of solar panels is on a massive scale: it takes approximately 2.8 million ounces of silver to generate one gigawatt of electricity from solar panels.
Spot silver prices climbed higher in each of the past seven trading sessions. For those interested in silver investing, know this; it’s just the beginning. The surging demand for the grey metal will soon push silver price to $30.00, $45.00, or even $60.00 and higher. Here’s why.
Curated from Silver Price Forecast: Is Silver Going to $60?
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