Focus on the silver price

Focus on the silver price

About half of silver is an industrial metal. This distinguishes the precious metal from gold.

In October, the price of silver reached a twelve-year high of USD 34.90 per troy ounce. After the US election, the price of silver fell, as did the price of gold. Silver tracks the development of the gold price, although the two have different characteristics. In 2023, around 63% of the silver supply went to industry. The US election and the rather weak economic development in China are affecting industrial metals, including silver. Nevertheless, Metals Focus, for example, assumes that the price of silver could reach a high of around 38 US dollars in the first half of 2025. This is because the world, which is experiencing climate change, needs silver, a lot of silver, especially in China. At the same time, there is a persistent supply deficit for silver. The silver deficit for this year is estimated at 182 million troy ounces. Silver was in high demand in India in October. Year-on-year, sales rose by 20 to 25 percent. Presumably, the high gold price encouraged silver purchases. Another important consumer of silver is the photovoltaic industry, which continues to grow, and with it the demand for silver. The consumer electronics sector has also increased its demand for silver. Overall, the further development of the Chinese economy is likely to be a decisive factor because silver is an important industrial metal. Record demand from industry is expected for the current year. Cars contain more and more silver, for example due to the increased installation of windshield de-icing systems. Electric vehicles contain significantly more silver than conventional cars anyway.

Endeavour Silver - https://www.commodity-tv.com/ondemand/companies/profil/endeavour-silver-corp/ - is one of the medium-sized silver producers that provide silver supplies. The projects are located in Mexico, Nevada and Chile. In Jalisco, Mexico, the company is now developing the Pitarrilla silver, lead and zinc project.

Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - is also active in Mexico. The promising Panuco gold-silver project is located there.

Annual production of more than 15 million ounces of silver equivalent is expected.

Current company information and press releases from Endeavour Silver (https://www.resource-capital.ch/en/companies/endeavour-silver-corp/ ) and Vizsla Silver (https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ ).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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