%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment %BankofAmerica (NYSE: $BAC ) remains bullish on %Silver despite the potential for near-term headwinds. Analysts at the second largest commercial lender in the U.S. say they expect the price of silver to continue receiving support as global consumption outpaces supply. A stronger U.S. dollar and weak industrial activity have placed pressure on the price of silver in recent months. Silver’s price could experience further downward pressure as president-elect Donald Trump imposes import tariffs on Canada and Mexico, two of the world’s biggest suppliers of the metal that is used for both industrial purposes and to make jewellery. Silver's price has hovered around $30 U.S. an ounce over the past nine months. However, despite some immediate risks, Bank of America analyst Michael Widmer remains positive on the outlook for silver, saying that he expects the price to rise this year as demand outstrips supply. Widmer notes that global consumption of silver has outpaced production of the precious metal every year since 2022 and is expected to do so again in 2025. Bank of America estimates that 37,083 tonnes of silver will be consumed this year, down only about 0.4% from 2024 levels. At the same time, silver output is seen rising 3.5% to 33,021 tonnes. Despite the production growth, the silver market is expected to remain in deficit, underpinning prices. The bank expects this trend to continue through 2026. “The silver market has been in deficit for a while now and those shortfalls finally count,” wrote Widner in his report. “Silver won’t lose its luster long-term,” he added.