Dharmachakra tassel necklace in silver by Cynthia Gale of the US
Production of silver jewellery is expected to rise 4 percent this year, on the heels of a 1 percent increase in 2017, according to the Silver Institute.
In its 2018 Silver Market Trends report, the organisation said: "Many would argue that silver's features lend themselves better than gold to fashionable jewellery because of silver's colour neutrality, which provides more versatility for many fashion-conscious consumers."
Silver demand from the jewellery sector accounts for approximately one-fifth of total silver demand, the Silver Institute added.
Silver necklace with larimar by Maly Joyas of Peru
The 2017 GFMS/Silver Institute Interim Silver Market Review had earlier forecast a modest 1 percent increase in silver production in 2017 to 207.1 million ounces on the back of renewed demand in key markets. According to the report, China's fabrication of silver jewellery posted a decline last year, but this was partially offset by stronger demand in India.
Headquartered in Washington D.C., the Silver Institute is a non-profit international association that serves as the industry's voice in increasing public understanding of the value and the many uses of silver. Established in 1971, the Institute's members include leading silver producers, prominent silver refiners, manufacturers and dealers.
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