SILVER: DEMAND IS UP, PRODUCTION DOWN
The total consumption of silver in the noncommunist world grew 6.6 percent to 500 million troy ounces in 1990 from 469 million in 1989. This is the seventh year in a row that the use of silver has increased. Because of poor metal prices, silver mine production in the noncommunist world increased only 4 percent in 1990 from 1989, according to a report by The Silver Institute.
The report predicts a 2 percent decline of silver production this year.