Score with silver investments
Demand for silver ETPs (exchange-traded products) has been particularly strong this year, with a record high
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More than one billion ounces went into this asset class. While 81.7 million ounces of silver net came into ETPs in 2019, that figure is expected to rise by about 350 million ounces in 2020. For investments directly in physical silver, the Silver Institute said the current year brought a 27 percent increase (236.8 million ounces of silver), a five-year high.
Over the year, the price of gold's little brother rose by 38 percent. In terms of purchases of silver coins and bars, the USA is leading the way this year with an estimated increase of 62 percent. Silver will cost an average of $20.60 per ounce in 2020, the highest price since 2013.
Mine production in the current year will be down by a forecast 6.3 percent. This is because mine closures, even if they were mostly temporary due to the Covid issue, in Mexico, Peru and China, among others, reduced silver production.
Demand for silver jewelry has fallen by around 23 percent this year. However, a double-digit recovery is expected in 2021. According to the Silver Institute, silver demand is thus more robust than gold demand in terms of the jewelry industry. This is because the latter is likely to see a decline of 33 percent in 2020. Silver investments should continue to be worthwhile in the future, and silver companies are also part of this.
For example, Summa Silver - https://www.youtube.com/watch?v=tj26XjWf0gA - owns the Belmont Silver Project in Nevada (up to 6,220 grams silver equivalent in drilling) and the previously producing Mogollon Project in New Mexico.
MAG Silver - https://www.youtube.com/watch?v=DlnD7JKD_n8 - holds a 44 percent stake in the promising Juanicipio project in Mexico. We can already look forward to the first production.
Current corporate information and press releases from MAG Silver (
www.resource-capital.ch/en/companies/mag-silver-corp/)
and Summa Silver (www.resource-capital.ch/en/companies/summa-silver-corp/).
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