Silver heads for 30 US dollars per troy ounce
Silver fans are eagerly waiting to see when the price of the precious metal will break out to the upside. Since the end of March, it has gained almost 20 percent, rising more than the price of gold. Silver, which is about half an industrial metal, has followed the price increase of the industrial metals. Positive for the further development of the silver price is Metals Focus and also the Silver Institute. They expect record demand this year of 524 million ounces. Climate-friendly technologies, the automotive industry, which is picking up again, and the important photovoltaic sector are responsible for this. Billions of dollars of investment are flowing into the latter, creating demand for silver. A shift to electromobility is also a driver for more silver demand.
China's strong silver imports also show that silver is in high demand. These are as high as they were three years ago, as shown by the first four months of 2021. Whether jewelry or silverware, bars or coins, the experts expect growth and have high hopes for silver. For example, the experts at Commerzbank see a silver price of 30 U.S. dollars per ounce by the end of the year and prices quoted above that next year. The price is still far below the all-time high, so there is still potential in the silver price.
There is also still great potential in some silver companies, such as Ridgeline Minerals - https://www.youtube.com/watch?v=SDxo568Ayts. The company's portfolio includes four promising silver and gold properties in Nevada. At the Selena project, drilling just found 123.2 grams of silver per ton of rock.
Summa Silver - https://www.youtube.com/watch?v=ug3uoh8GQfk - is also active in Nevada, where it has the Hughes property, which hosts the formerly producing Belmont mine. In addition, in New Mexico, there is the Mogollon property.
Current corporate information and press releases from Summa Silver ( https://www.resource-capital.ch/en/companies/summa-silver-corp/).
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