Physical Silver Investment Saw "Massive" Growth Last Year - 19 April 2012
"Physical silver bar investment grew by a massive 67% in 2011 to 95.7 million ounces [2976.6 tonnes]," the 'World Silver Survey 2012' says.
The World Silver Survey is published by the Silver Institute and based on figures from leading precious metals research consultancy Thomson Reuters GFMS.
Global production of Silver Investment coins meantime rose by nearly 19%, from 99.4 million ounces [3091.7 tonnes] to 118.2 million ounces [3676.4 tonnes].
Silver Investment coins production was especially strong in China.
"China accounted for a near 60 percent rise in its bullion coin output last year," the Survey says.
Elsewhere however, there appeared to be an overall decline in worldwide Silver Investment compared to 2010. Implied net investment – which does not include Silver coins and medals – fell 11.1% to the equivalent of 164.0 million ounces [5100.1 tonnes] in Silver Bullion.
Implied net calculated as a balancing item once account has been taken of other sources of demand.
Global holdings of Silver ETFs meantime fell 4% to 576.1 million ounces [17,918.7 tonnes] by the end of last year.
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