Silver demand could rise by 11% YoY, may outperform gold in 2021, says International Silver Institute

Silver has been outperforming gold in 2021. Silver prices are up nearly 4.5 percent while gold continues to seeing negative prices. The International Silver Institute (ISI) too has forecasted that silver prices will continue to outperform gold in 2021.

They are expecting strong support from physical investment and industrial demand. They also expect demand to increase by 11 percent year-on-year (YoY) in 2021.

The jewellery numbers are expected to be slightly on the weaker side, but the mining production is expected to increase to around 866 million per ounce.