Is Demand for Precious Metals Growing?

[doitvoluntarily]

Is the demand going up for precious metals?

A recent report from Kitco suggests that silver might be joining copper in a supply crunch and with inflation worries circulating with millions of people you have to wonder who might go looking for something like precious metals at this time.

They aren't the only ones who have been suggesting that the silver demand might exceed supply this year either.

"Demand for physical gold and silver is off the charts. I've never seen anything like it in 20 years of doing this," says S Rand

It isn't easy for everyone to get precious metals, depending on where you are. However, when looking online you will find a myriad of sources for a variety of coins new and used.

A survey from a few years ago found that about 10% or more of the American population already owned gold, a little more had been found to own silver.

Could the fiat worries be contributing to the growing awareness and preference for precious metals? The physical silver demands have been expected by experts to reach record highs and the supply might be immune to some disruption because of that surge. Last year there were also reports that interest had been growing for things like silver bars and coins, among other precious metals. If rates continue to rise next year and concerns about cost of living continue then what might that mean for all things precious metals and the demand around the world?

Pics:
pixabay
This is not financial advice
Sources:
https://www.prnewswire.com/news-releases/new-survey-reveals-10-8-of-the-american-population-owns-gold-while-11-6-owns-silver-301122041.html
https://www.nasdaq.com/articles/survey-shows-main-street-picking-gold-and-silver-to-outperform-in-2022
https://www.bloomberg.com/news/articles/2022-11-04/india-s-massive-silver-demand-cutting-world-s-warehouse-stocks
https://www.kitco.com/news/2022-11-21/Physical-silver-demand-to-hit-record-highs-but-ETF-outflows-dominate-the-price-action.html
https://www.mining.com/web/silver-demand-to-exceed-supply-again-this-year/

Comments

[olympicdragon]

I think demand for silver is up. Prices are now more reasonable !

[silversaver888]

Yes, of course, hehehe!
A store of wealth. If you don't hold it, you don't own it!

[the-bitcoin-dood]

I've been a silver bug for a while now. Looks like I might have to pick up a few more bars. I like silver as a "just in case" form of money for if shtf scenarios. Also a nice place to store extra cash as a store of value.

[royalevidence]

Silver is still pretty doing great much

[weed.dispenser]

@doitvoluntarily!

@loonatic passed you the virtual joint!
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[loonatic]

!WEED

[royalevidence]

Silver is still pretty doing great much