Silver Special: Supply and Demand Out of Balance

The silver world, i.e. supply and demand, is out of balance. There was a net shortfall of around 52 million ounces of silver in 2021 and 71.5 million ounces last year. The silver price itself has so far not really come from the spot and moves in a range of $ 20-25 per ounce. Stocks at the LBMA in London have fallen from over 1.2 billion ounces to 840 million ounces of silver in the last 12 months. The market continues to tighten physically even if this does not bother anyone on the futures exchanges. We present some silver companies that could benefit from a deficit.