Silver - Hope with vaccine development
Unlike gold, silver is also an industrial metal. Especially due to the positive news about corona vaccines, which are just coming, the slide of the silver price down should actually stop. Due to the pandemic the demand for silver in the industry decreased. If the world gets the pandemic under control soon, especially through vaccinations, then the economic performance should also pick up again and more silver should be demanded. Those who are now turning their backs on silver do not seem to take this into account.
From a chart technical point of view, with the now successful crossing of $23.30, the way is clear for silver to rise again to $26.65 an ounce. Because above this level a bottom could be reached. This, in turn, would also allow silver prices to reach almost $30.
Normally, the price of gold pulls the price of silver with it, in both directions. The experts are predominantly positive about gold, at least in the medium to long term. And the just lower gold price seems to have an effect. In India, for example, the demand for gold has risen significantly. And a rising demand in Asia would also have a positive effect on the silver price. As I said, silver has a plus point because it is also an industrial metal. So, from a fundamental point of view a higher silver price would be owed.
To persevere is therefore the motto, or rather to enter the market in favourable times, for example in silver stocks such as MAG Silver -https://www.youtube.com/watch?v=Z72z3WXT0OA&t=4s - or Endeavour Silver. MAG Silver (with partner Fresnillo) has started production at the Juanicipio project in Mexico. It expects to produce an average of 11.7 million ounces of silver and 43,500 ounces of gold annually. The material will continue to be processed at Fresnillo until the Juanicipio processing plant is commissioned around mid 2021.
Endeavour Silver - https://www.youtube.com/watch?v=uopN-WrxPGU&t=116s - has enjoyed a very successful third quarter of its three producing silver mines in Mexico. Endeavour Silver is looking forward to further projects. The Terronera project, for which adjacent concessions have just been acquired, is at an advanced stage.
Current company information and press releases from MAG Silver (www.resource-capital.ch/en/companies/mag-silver-corp/) and Endeavour Silver (www.resource-capital.ch/en/companies/endeavour-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.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also