Silver demand hit a record high in 2013 according to the “World Silver Survey 2014″, released today by the Silver Institute.
Highlights of the World Silver Survey 2014:
- Total silver demand was 1,081 million ounces (Moz) in 2013 up from 954.4 Moz. in 2012, or a 13.3 percent increase year over year.
- Demand for silver coins and bars rose 76% in 2013 from 139.3 Moz sold in 2012 to 245.6 Moz sold in 2013.
- Demand for physical silver bullion surpassed demand for use in electronics for the first time.