Other

Silver demand increases in first half of 2015

OtherFeb 08, 2018

Silver demand increases in first half of 2015

Demand for silver in jewelry and industrial applications is up, and GFMS Thompson Reuters predicts that globally silver jewelry will increase 5 percent this year.

Washington, D.C.--There was an increase in demand for silver in the jewelry and industrial applications fields in the first half of the year, the Silver Institute said in a report released last week.

Imports of silver jewelry into the United States, the world’s largest importer of silver jewelry, rose 11 percent through the end of May, with the Silver Institute noting that consumer desire for silver jewelry has “increased significantly” so far this year.

GFMS Thompson Reuters estimates that globally silver jewelry will grow 5 percent in 2015.

In addition, the gold/silver ratio, a measure of the metals’ relative prices calculated by dividing the price of an ounce of gold by the corresponding price of silver, has averaged 58 since 2000. The ratio averaged 73 in the first half of the year, “indicating that silver is underpriced relative to gold,” the Silver Institute said, which “gives way to increased potential buying in the silver market.”

On the supply side, the silver market is expected to be in a deficit of 57.7 million ounces in 2015, as supply contracts and physical demand grows. This would mark the third consecutive year that the market is in a physical deficit.

Investment-wise, demand for silver has been sturdy in the first half of the year in what has been a “challenging precious metals investment market,” as global silver exchange traded fund holdings increased by more than 4.7 million ounces, “indicating that these investors likely have a more positive long-term view of the silver price,” the Silver Institute said.

Declining in the first half of the year were global bullion coin sales, which dropped 6 percent year-over-year to $43.6 million ounces. The U.S. Mint, faced with a significant spike in investor interest, suspended sales of its silver bullion coins from July 7 to 27 (resuming on an allocated basis) after exhausting its inventory. Still, first half 2015 global bullion coin sales were the fifth highest on record.

In related news the Silver Promotion Service, created by the Silver Institute to enhance the image of and stimulate demand for silver jewelry, recently announced a new marketing initiative, “Silver Style Partners,” an addition to its Savor Silver program. The intent of the new category is to enable the SPS to include jewelry made with silver as well as gemstones and other materials to its Savor Silver program.

“The addition of a Silver Style

Partner designation is in response to both popular demand within the jewelry industry and the opportunity to further increase the demand for silver jewelry,” SPS Director Michael Barlerin said.

“A number of silver jewelry companies have approached the SPS in the past regarding participation in the (Savor Silver) program, but were excluded because of ‘visual criteria.’ The SPS plans to initiate outreach to this category of manufacturers in the coming weeks, with the goal of incorporating the new brands into Savor Silver in September.”

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Nina Pugliese Henne Jewelers
IndependentsSep 29, 2025
Nina Pugliese, Longtime Henne Jewelers Employee, Dies at 65

She was remembered as a creative and generous woman of faith, who also had a sweet tooth.

Overnight volume 7 bridal catalog
MajorsSep 29, 2025
Overnight Releases New Bridal Catalog

The “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.

Mark Henry Leandra Medine Cohen
IndependentsSep 29, 2025
Mark Henry Jewelry to Debut in Canada

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

gia-edu main image.png
Brought to you by
A Brilliant Future Is Here

Online education from GIA experts.

Kwait White and Yellow Gold Diamond Earrings
TrendsSep 29, 2025
Amanda’s Style File: Ear Focus

Move over neck mess, the ear story is the way to make a layering statement today.

Weekly QuizSep 25, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Hand holding holiday shopping bags
SurveysSep 26, 2025
Online Shopping, Influencers to Drive Holiday Spending, Mastercard Says

Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.

Austin Shines Jewelry Award
Events & AwardsSep 26, 2025
Winners of Austin Jewelry Design Contest Announced

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

reDollar-fine-jewelry-department.jpg
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment Program

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

Kwit Square Signet Pinky Ring in Red and Azure
TrendsSep 26, 2025
Piece of the Week: Kwit Jewelry’s Square Signet Pinky Ring

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

Jewelers of America Fly In
Policies & IssuesSep 25, 2025
JA CEO Provides Tariff Update Following Annual Fly-In

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.

Entrance to Jwaneng diamond mine in Botswana
SourcingSep 25, 2025
2 African Countries Aim to Take Stake in De Beers

Botswana’s president said his country wants a controlling share, while Angola envisions multiple countries holding minority stakes.

Kira Jewels Growing Rowing Machines
Lab-GrownSep 25, 2025
Kira Jewels Expands Lab-Grown Diamond Production

The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

Alex Moss SoHo store
IndependentsSep 25, 2025
Alex Moss’ New Flagship Brings Bold Jewels to SoHo

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

Matthew Wilson, Kavin Kulamavalava, and a Elmasolvex VA
WatchesSep 25, 2025
Wilson & Son Jewelers Donates to the Horological Society of New York

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

Representatives of India’s Gem and Jewellery Export Promotion Council and Indian government leaders
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into Disarray

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.

Father’s Day diamond advertisement that ran in India
SourcingSep 24, 2025
De Beers Adopts New Strategies to Drive Natural Diamond Demand in India

De Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.

Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term Worries

They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

Guest lecture for people with disabilities at the Jewelex factory
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the Industry

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

Greenwich St. Jewelers Estate Capsule Campaign
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate Collection

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

Marcus ter Haar
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-Elect

He previously served as co-chair of the nonprofit’s beneficiary committee.

Jane Goodall Brilliant Earth campaign
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for Peace

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.

SRK Kriam Pharma
SourcingSep 24, 2025
SRK Launches Kriam Pharma

The diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.

Emmanuel Raheb, CEO of Smart Age Solutions and National Jeweler columnist
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for Jewelers

Emmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.

Claire’s storefront
MajorsSep 23, 2025
Ames Watson Completes $140M Acquisition of Claire’s

The private equity firm has a plan to revive the mall staple.

Super Smalls Super Book of Gems, Maria Dueñas Jacobs, and Bianca Gottesman
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine Jewelry

The “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.

Mattioli CEO Claudio Pasta
MajorsSep 23, 2025
Mattioli Names Kering Exec as New CEO

Claudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.

Monique Lhuillier fashion jewelry Kay
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers Line

The new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy