This week, we welcomed Michael DiRienzo, Executive Director at The Silver Institute and Philip Newman, Managing Director and Partner at Metals Focus.
Philip provided an update on the Silver Market Interim Report: in summary he expects silver will see its fifth consecutive surplus in 2020 of 31.5moz,versus 26moz in 2019, but this will be comfortably absorbed by investors. Metals Focus remain positive on silver’s (and gold’s) outlook; despite optimism on a COVID vaccination, the macro backdrop is supportive for precious metals, the lows should be well defended. He expects silver to eclipse $30/oz in 2021.
Michael talked about some new and growing uses of silver. Silver will play a critical role in 5G technology, with expectations that this could consume 23moz by 2030 (up more than 200% from today). Michael also touched about silver’s use in batteries, in wearable sensors, and in PPE.
This webinar is CPD Accredited. For more information, please contact events@lbma.org.uk.
