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Weekly Silver Review: Demand Trends Offer Good Support

20-Apr-24 12:26 Hrs IST

Silver futures have been locked in a range after hitting near three year highs of $30 per ounce and consolidated around $29 per ounce mark. The metal has moved up at a blistering pace over the last few weeks on firm industrial demand trends and soaring Copper prices. Global Demand for silver in the PV industry increased by 64% from 118.1 million ounces (Moz) in 2022 to 193.5 Moz in 2023, according to the recent World Silver Survey 2024 published by the Silver Institute. The demand could increase a further 20% this year, reaching 232 Moz. Total silver demand fell by 7% last year, from 1,278.9 Moz in 2022 to 1,195.0 Moz in 2023. Silver Institute expects it to rise again in 2024, by 2% to 1,219.1 Moz. Silver demand across all industrial use rose by 11% to 654.4 Moz in 2023, which is a record high. Meanwhile, India?s Silver imports came in at Rs 6777 crore in March 2024, up by 1068% compared to March 2023. Silver imports in FY24 rose by 6.93% compared to FY23.

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Sr No	Start Date	Department	Tender Details	Status
1	22-11-2023	Compliance	Procurement of AML/PML software Solution - VC Meeting Link for opening of Tender Box on 22/11/2023 at 4.30 pm	Active upto 22/11/2023 end of the day
2	16-10-2023	Compliance	RFP for Procurement of AML/PML software solution
	06-11-2023	Compliance	A. Addendum - Extension Period for procurement of AML/PML sofware solution
3	16-08-2023	IT	RFP for Procurement of Firewall
			A. General Information
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			C. Financial Bid
			D. Extension of RFP
4	12-07-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
5	07-07-2023	CS	RFP for Secretarial Audit
6	26-06-2023	IT	RFP for AMC of Online UPS system installed at IFINs Branch office	Closed
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10	24-05-2023	ADMIN	RFP for Premises on Lease for Salem Branch	Closed
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11	24-04-2023	IA	Extension Of RFP iCOM IA for FY 2023-2024	Closed
12	25-04-2023	CS	Extension Of RFP for Seeking Quotations for Secretarial Audit Of IFIN Group for FY 2022-2023	Cancelled
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