SILVER: DEMAND IS UP, PRODUCTION DOWN
WASHINGTON — 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.