As of August 15, 2024, the Silver Institute predicts that the global silver deficit will increase by 17% in 2024, reaching 215.3 million troy ounces. This is due to a 2% increase in demand, mainly from industrial consumption, and a 1% decrease in supply. The Silver Institute also predicts that global production will fall to 823.5 million ounces in 2024, due to the closure of several mines in Peru and output declines in Mexico and Argentina in 2023. $UXI $SIJ