Gold missed, then silver
The upside target for the silver price is intact, according to experts from the major Swiss bank UBS. Although the price of gold has been subject to some considerable fluctuations in recent times, its little brother silver has held up well. And so, investor interest has also increased.
The industrial demand for silver is an important point. Silver investors are counting on an economic recovery. This is the difference to gold investments, which are more seen as long-term investments. With silver, asset preservation plays a rather subordinate role. Interestingly, China's silver imports in April were a good twice as high as in the same period last year. Overall, China's silver hunger in 2020 was well above average.
Chart analysts see resistance at $ 19 an ounce of silver. If this is exceeded, then the highs of 2019 should soon be reached again, or even more. Because above the $ 19 mark there is no significant resistance. Silver's popularity can also be seen in silver ETFs, which are already recording more inflows in the current quarter than in the record quarter of 2019 (third quarter). And since the beginning of the year, the inflows already exceed the record year 2009.
So if gold has become too expensive for you, you could invest in silver or silver companies. For example, in Endeavour Silver or MAG Silver.
Endeavour Silver can be pleased to report that the company is now in its 16th year of successful production: https://www.commodity-tv.com/play/endeavour-silver-virtual-roadshow-investor-presentation/. Three Mexican silver-gold mines provide the silver production.
MAG Silver and partner Fresnillo are close to starting production at their Juanicipio mine in Mexico: https://www.commodity-tv.com/play/mag-silver-corporate-teaser-2020/. MAG Silver still owns the Cinco de Mayo property, also in Mexico.
The latest company information and press releases from Endeavour Silver (https://www.resource-capital.ch/en/companies/endeavour-silver-corp/) and MAG Silver (https://www.resource-capital.ch/en/companies/mag-silver-corp/).
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