Silver to Rally as Production Drops for First Time in 14 Years?
KITCO NEWS - Global silver mine production in 2016 recorded its first decline since 2002, largely as a result of lower by‐product output from the lead, zinc, and gold sectors - this according to the latest study by an organization committed to the metal's cause, the Silver Institute. In collaboration with Thomson Reuters GFMS, the institute released its annual World Silver Survey on Thursday, which also showed that silver scrap supply posted its lowest level since 1996 while total silver supply decreased by 32.6 million ounces in 2016. GFMS' lead metals analyst Johann Wiebe joins Kitco News in studio to share some of the report's key findings as well as to give his outlook on the metal's price.
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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.
