Commemorate “brat summer” with these green hoops.
After Falling 8% in 2018, Silver Price Expected to Rebound
Silver averaged $15.71 last year but is expected to rise to nearly $17 an ounce this year, Refinitiv said.
![The “Tented Maya” earrings from M. Hisae retail for $160 in sterling silver. Silver jewelry demand rose in the United States, with analysts noting the importance of the category for women looking to buy a piece of jewelry for themselves that’s $500 or under. 20190415_silver_header_earrings.jpg](https://uploads.nationaljeweler.com/uploads/e39703d2b8d45c689d20b478fd3a1bb5.jpg)
New York—The price of silver is expected to climb this year after dropping nearly 8 percent last year, an analyst said Thursday at the release of The Silver Institute’s World Silver Survey 2019.
According to the survey, the average per-ounce price of silver fell by 7.8 percent to $15.71 in 2018, with prices ranging from $13.97/ounce to $17.52/ounce. The main factor impacting the silver price was the trade dispute between the United States and China, which strengthened the U.S. dollar and dragged down metal prices.
This year, Refinitiv (the new name for Thomson Reuters’ financial and risk business) predicts silver will average $16.75 an ounce, Lead Metals Analyst Johann Wiebe said.
“Silver has been lagging gold prices for a quite a while and we feel it has some catching up to do,” Wiebe explained in an email following the event. “On top of that, we expect a more favorable investment climate this year and next. This is mainly driven on a weaker macro-economic climate in the U.S. as well as China.”
In general, this is good for gold because it is so heavily investment focused, but silver will benefit too, Wiebe said. He also noted that a weaker U.S. dollar will contribute to driving the prices of all precious metals higher this year.
The GFMS team at Refinitiv researches and produces the survey for The Silver Institute, which, in addition to price, covers supply and demand for silver in investment, industrial fabrication and jewelry.
Jewelry Demand Climbs
The survey shows that globally, silver jewelry fabrication demand increased 4 percent year-over-year in 2018 to 212.5 million ounces.
While India was the standout performer—demand there rose 16 percent—the U.S. also recorded solid silver sales, with demand increasing 7 percent to hit an all-time high of 17.4 million ounces.
Wiebe said retailers in the U.S. are “still keen” to stock their cases with silver jewelry, as it generates profit margin and gives them something to offer women looking to buy a piece of jewelry for themselves for $500 or less.
However, the survey noted that
Silver jewelry also is not immune to the one of the biggest challenges currently facing all jewelry, be it gold, diamond or gemstone: How and where do jewelers and brands connect with younger consumers?
“The difficult bit is to get ahold of the millennials today,” Wiebe said in his presentation Thursday. “How do you reach the millennials? They are constantly online.”
The results of the World Silver Survey support the findings of the annual survey the Silver Promotion Service, the Silver Institute’s marketing arm, does in concert with InStore magazine.
Released last month, the SPS/InStore survey for 2018 showed that 52 percent of U.S. retailers saw silver sales increase year-over-year. The category also continues to generate the best profit margin for jewelers, with 40 percent indicating it was their top money-maker over the holiday season.
Meanwhile, Refinitiv said overall silver demand rose 4 percent to 1.03 billion ounces last year, fueled mainly by the recovery in retail investment, including the 53 percent jump in demand for silver bars.
The increase in demand was particularly pronounced in India, where silver bar demand more than doubled, rising 115 percent.
Supply Remains Tight
Global mine supply fell for the third consecutive year, slipping 2 percent to 855.7 million ounces following supply disruptions in the U.S., Canada and Guatemala.
Output dropped 17 percent in the U.S. due mainly to several issues at Americas Silver Corp.’s Galena operations, where the mine shaft was shut for more than two weeks. Operational issues also plagued Canada, with production falling 32 percent after a fire in the smelting facility and continuous maintenance problems at Teck’s Trail operation.
![](/rails/active_storage/blobs/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBbXdXIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--7613ebb7cf3e3f5dc245eedf99db8d5b999bae82/20190415_Petkus_earrings.jpg)
Offsetting those losses was record output in Mexico, which remains the No. 1 producer of silver in the world. The country’s 2018 output totaled 196.6 million ounces, followed by Peru (144.9 million ounces) and China (114.9).
The U.S. ranked as the ninth largest producer of silver in the world in 2018, with production totaling 28 million ounces, while Canada was No. 11 at 24.8 million ounces.
Silver scrap supply also fell by 2 percent year-over-year, due mainly to lower suppliers discouraging suppliers and consumers from recycling silver.
The rising demand and shrinking supply resulted in a physical market deficit of 29.2 million ounces, which is about 3 percent of annual demand and considered a balanced market.
The Latest
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Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
Sponsored by Gemological Institute of America
![Untitled design.jpg](https://uploads.nationaljeweler.com/uploads/583fbcb2bb839782810080debef35d3c.jpg)
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
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They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
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Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
A longtime member of IJO, she’s remembered for her passion for design, learning, and environmentalism.
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GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
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The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
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Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
![Chaumet, a Parisian jeweler owned by LVMH, has designed the Olympic and Paralympic Games medals. Chaumet Paris 2024 Olympics medals](https://uploads.nationaljeweler.com/uploads/7831b3a738baddfc7d783e6df0fbf796.jpg)
The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
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Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
![The winner of this year’s Lonia Tate scholarship, Bradlei Smith will receive the opportunity to earn her Graduate Gemologist diploma from GIA and, following graduation, an internship at Ben Bridge Jeweler in Seattle. Bradlei Smith](https://uploads.nationaljeweler.com/uploads/996834935ae30a7a1195db8b9db6cb7d.jpg)
Los Angeles-based Bradlei Smith was selected for this year’s award.
![Peter Smith is an industry consultant, speaker, sales trainer, and author. He can be reached via email at TheRetailSmiths@gmail.com. National Jeweler columnist Peter Smith](https://uploads.nationaljeweler.com/uploads/bec7295a7f478778b1c196e6d81e7cd9.jpg)
In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
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The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
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The giveaway is part of the New England jeweler’s summer bridal event.
![L.A.-based flower designer, Sophia Moreno-Bunge models Guzema’s “Hidden Beauty” collection in front of a garden in Rustic Canyon in Santa Monica, California. Sophia Moreno-Bunge of Isa Isa modeling Guzema’s Hidden Beauty collection](https://uploads.nationaljeweler.com/uploads/6f3822623eb7fd2f6468f82825194cb1.jpg)
The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
![The Entrepreneurship Grants program supports winners with financial aid to scale their businesses and increase their societal impact, said Diamonds Do Good. Pictured here are three of the 13 winners, top right is Tresia Shituula, and bottom row left to right, are Monkgogi Moshaga and Mohamed Samu. Tresia Shituula, Monkgogi Moshaga, Mohamed Samu](https://uploads.nationaljeweler.com/uploads/a7c9b87301b76a9446f6522747ce5b95.jpg)
The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
![Ghazi Osta, better known as Gus, was the owner and president of Volusia Gold & Diamond, a store he and his wife, Leigh Osta, opened in 1986. He was shot and killed inside the store Friday afternoon after a brief argument with a regular customer. (Photo courtesy of Volusia Gold & Diamond Facebook page) Ghazi “Gus” Michel Osta](https://uploads.nationaljeweler.com/uploads/c8c1fa3df746cbd364915a98dcac9d21.jpg)
Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
![Elyssa Jenkins-Pérez (left) is the Responsible Jewellery Council’s new head of North American development, and Effie Marinos is its new specialist advisor for technical standards. Elyssa Jenkins-Perez and Effie Marinos](https://uploads.nationaljeweler.com/uploads/94332af0c7a776e7a8c36fabf76baa5f.jpg)
The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
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Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
![Longtime Washington, D.C., jeweler Brian Mann (right) with his wife Jessie Mann, an artist who custom-paints porcelain Limoges Boxes, at a 2016 Jewelers of America member event. Mann, the longtime co-owner of David Mann Jewelers, died June 21 at age 70. Brian and Jessie Mann](https://uploads.nationaljeweler.com/uploads/be4debc6e0b3198943a66ef0e2197c2c.jpg)
Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
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The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
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Dance all night long with the “So Move Max” set’s necklace.
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Luxury giant LVMH is reshuffling the leadership in its watches division.
![A rendering of a billboard from Etsy’s new campaign. The campaign is designed to highlight the platform’s creators and how their products are made. Etsy billboard rendering in NYC](https://uploads.nationaljeweler.com/uploads/9a94f394f326b90dc1c9da6a711c5e09.jpg)
Sellers and shoppers have spoken out against a rise in mass-produced merchandise on the platform meant to highlight handmade goods.
![Ariana Grande said she cannot wait “to inspire others to embrace their own unique sparkle,” as Swarovski’s brand ambassador. (Photo credited to Mert Alas and Marcus Piggot for Swarovski) Ariana Grande Modeling in Swarovski Jewelry](https://uploads.nationaljeweler.com/uploads/adaa79dce0741a275427155078691611.jpg)
The celebrity will star in Swarovski’s holiday campaign.