Orama Estates LLC: Analyzing the 2021 Silver Market and Forecasting 2022 Trends
According to recent data published in a survey, the total demand for silver in 2021 was 896.1 million ounces, a decline from 995.4 million ounces in 2020. Despite this drop, the majority of the demand for silver, 486.8 million ounces, came from the industrial sector. The supply of silver also decreased to 976.2 million ounces, compared to 1.019 million ounces in 2020.
In 2021, the median price of silver rose to $20.55 per ounce, a 27% increase from the previous year and the highest average price since 2013. The Silver Institute has predicted that the average silver price in 2022 will continue to grow, reaching $27.30. In fact, by Q3 2022, the price of silver had already surpassed this prediction, reaching $27.71.
The exponential growth of technology has made silver an important component in industrial production, making it a highly desirable asset for investors. Additionally, its connection to the hi-tech industry and relatively low risk profile make silver an attractive investment opportunity, especially for entry-level investors with limited budgets.
At Orama Estates LLC, we offer personalized investment options to match your individual needs and budget. Contact us for more information on the current silver market and available investment opportunities.
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Jersey City, NJ 07302