Silver has been labelled an "industrial metal".


In 2006 70% of silver's demand came from the needs of industry.


In 2015, industrial demand has fallen to nearly 50% and falls below half when silver investment demand for ETF's and Comex approved stored silver is included.

Since 2006 silver demand for coins and bars has surged 342%


Full 2015 Silver Supply Demand Report:

https://smaulgld.com/silver-supply-and-demand-2015/