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World Silver Survey 2026: jewellery fabrication and demand
Image · The Silver Institute / Metals FocusThe survey reviews regional silver-jewellery fabrication and the impact of higher prices. Global fabrication declined in 2025, while China grew, supported by substitution for gold and product innovation. Forecasts are presented separately from historical results.
What the report says
The World Silver Survey reports an 8% decline in global silver-jewellery fabrication in 2025, against gains of 5% in China and 24% in Thailand. Fabrication volumes are distinct from local retail sales.
JEWEL DAILY perspective
Our reading: identify whether a manufacturing increase serves domestic buyers or exports. For retail value, distinguish metal-price movements from transaction volume.
Silver can support its own design language rather than simply become a cheaper gold substitute. Compare finishing, styling repeat-purchases and aftercare demands when evaluating a launch. Raw-material prices alone cannot tell a brand whether customers value those product differences.
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Image · World Gold Council / Metals Focus / ICE Benchmark Administration