CPM Group, jeffrey christian, did not include silver investment demand in the calculation for silver demand for 2018. He is under the belief that the standing inventory of solar panels will satisfy demand in the upcoming year.
The demand for solar panels is predicted to increase in China as well as India. China anticipates that they will install panels on about 300 millions homes and India anticipates installation on 300 million homes as well. Morocco anticipates installation on 1.1 million homes. It doesn’t appear like the present inventory will satisfy this demand.
News of silver mines being scuttled due to the lower price of spot silver will be another factor which should be considered. This has already lowered the supply of silver being produced. It is true that the sales of silver from the mint has decreased but this is likely a result of the massive price increases in cryptocurrencies. If (or more accurately ‘when’) this price rise stems, the money will flow back into the precious metals.
It seems that jeffrey has been dipping into the koolaid. To ignore these factors in his calculations is at best erroneous.