Silver demand to hit 8-year highs, but what about prices? The Silver Institute weighs in

(Kitco News) Global demand for silver will rise to eight-year highs in 2021 on surging interest from industrial and physical markets, said The Silver Institute in a report on Wednesday.

"Against an improving macroeconomic backdrop, the main segments of silver demand are expected to rise this year," according to the report. "This reflects expected gains in the critical segments of industrial demand, physical investment, jewelry, and silverware fabrication."

Total demand is expected to reach 1.025 billion ounces, rising 11% and marking an eight-year high.