Silver market develops positively
Particularly positive: In 2018, global demand for silver rose for the first time since 2015, to 1.03 billion ounces of silver. That was four percent more, after all. In the coins and bars category, the increase in demand was around 20 percent. Silver bars in particular were sold over the counter, especially in India. India has also made strong gains in silver jewellery, buying 16 percent more, which represents a new record level.
More than half of the silver still goes to industry, often in new technologies. Only as an example we can mention revolutionary paints that ensure bacteria-free walls, thanks to the silver ion technology.
The price of silver in 2018 was between 13.97 and 15.71 US dollars per ounce. Influencing factors were a rising US dollar, interest rate hikes and negative forecasts for global economic growth from the International Monetary Fund.
At the same time, the global mine supply decreased for the third consecutive year in 2018, as did the supply of silver scrap. Both fell by two percent each.
Silver thus recorded a total deficit of 29.2 million ounces in 2018. At the primary silver mines, which account for 26 percent of total mine supply, silver output decreased by approximately seven percent. But there are still silver companies that supply the valuable precious metal continuously, such as Endeavour Silver or soon: MAG Silver.
Endeavour Silver - http://www.commodity-tv.net/c/search_adv/?v=299054 - has been producing successfully for years. The four Mexican mines returned approximately 1.9 million ounces of silver equivalent in the first quarter of 2019. Although the first quarter of 2018 has seen a decline compared to the first quarter, as CEO Bradford Cooke points out, Endeavour Silver has already mastered similar challenges in 2008 and 2013.
MAG Silver - http://www.commodity-tv.net/c/search_adv/?v=299118 - is expected to start silver production next year together with its partner Fresnillo on the Juanicipio project in Mexico. Construction has already begun.
Current corporate information and press releases from Endeavour Silver (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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