India drives silver demand
More than 900 million people are allowed to vote in the parliamentary elections in India. India ranks first in economic growth worldwide
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Narendra Modi wants to support agriculture in particular. Income levels there are expected to rise. In addition, the previous and probably other heads of government have made "Make in India" their motto. Modi wants to keep more added value in the country. This, too, would raise the income level of the population.
Since India is known as a country with inhabitants who like to use gold as a gift and hedge, a higher level of income should also drive demand for precious metals. As the government has recently been sceptical about gold demand, especially as imports have weakened the current account balance, silver has recently become increasingly popular among the Indian population. In 2018 the Indians bought 6,442 tons of silver, for 2019 6,590 tons of silver are expected. Economic growth, higher incomes and relatively low silver prices are expected to ensure a further rise in silver demand.
Endeavour Silver - https://www.commodity-tv.net/c/search_adv/?v=299054 - is already one of the successful silver producers. A total of 1.9 million ounces of silver equivalent (1,071,355 ounces of silver, 10,055 ounces of gold) were produced at the four Mexican mines during the first quarter of 2019. Further projects in Mexico and Chile are on the company's umbrella.
MAG Silver - https://www.commodity-tv.net/c/search_adv/?v=299118 - and its partner Fresnillo are working together on the production start of the Juanicipio project in Mexico. From 2020, the mine is expected to produce an average of 11.7 million ounces of silver and 43,500 ounces of gold annually. The life of the mine is estimated to be initially twelve years with significant exploration opportunities in the license area and the potential for future expansion of mining operations.
Current corporate information and press releases from Endeavour Silver (https://www.resource-capital.ch/en/companies/endeavour-silver-corp.html) and MAG Silver (https://www.resource-capital.ch/en/companies/mag-silver-corp.html).
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