Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Silver Price Expected to Rise Another 39% in 2021
This follows a significant uptick this year, according to the Silver Institute, even as global jewelry demand was down.
New York—Much as it has done for gold this year, the COVID-19 pandemic boosted the silver price in 2020 and it’s expected to continue its rise.
The metal’s price started the year soft, but began taking off throughout the pandemic, Metals Focus Managing Director Philip Newman said in a webinar hosted Tuesday by the Silver Institute to discuss its Interim Silver Market Review.
Its price has grown 38 percent through the year as the crisis led to an uptick in safe-haven demand.
He said price is predicted to rise 27 percent year-over-year to average $20.60 in 2020, which would mark the highest annual average since 2013.
Newman also noted silver is expected to remain strong and continue to outperform gold, though perhaps not as dramatically as it has been doing in 2020 as the uncertain economic outlook could affect prices going forward.
Still, the Silver Institute predicts a further 39 percent increase in price in 2021 to average around $28.60.
Along with the price increase, there has been a major improvement in the gold-to-silver ratio—representing the amount of silver it takes to purchase one ounce of gold—which Newman said reached an “unprecedented” peak of 127:1 in March.
It has since fallen again to 76:1 this month, he noted, around which he expects it to stay for a while.
But as price has risen, silver jewelry demand has gone down.
Global silver jewelry demand is expected to fall 23 percent in 2020 to 153.6 million ounces, according to the Silver Institute, underpinned largely by heavy losses in India resulting from widespread lockdowns hitting disposable incomes and leading to a weakened economy.
Global demand also weakened in the U.S., though Newman said the extent of the decline was more modest than for gold and added that a “sharp turnaround” is anticipated soon for the market suppliers.
Mine production for silver will also likely go down overall, with an expected decline of 6.3 percent in 2020 to hit 780.1 million ounces, according to Metals Focus Director of Mine Supply Adam Webb. This result comes, not surprisingly, after lockdowns implemented by major silver producers in the first half of the year required a temporary halt in production.
This goes against the firm’s prediction earlier in the year total production would be up in 2020.
Most mines have returned to full production rates, but the continued risk of outbreaks of COVID-19
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Nicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.