What moves the price of silver
Firstly, the direction of the gold price is very important
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Without a trend in gold, many think, there is also no trend in silver. That the silver price breaks out on its own is just very rare. The chart technique is positive for the future of the silver price. At 30 US dollars per fine ounce of silver is an intermediate high. At 35 US dollars there is an important resistance before 50 US dollars. This means that if the silver price develops above 35 US dollars, it can quickly reach a new all-time high, i.e. a value above 50 US dollars.
Some analysts see this opportunity coming in the second or third quarter of 2021. Higher silver prices lead to upside potential for silver stocks. Not only the silver price, but also the expertise of the management and the quality of the projects is significant for the progress of the silver companies.
It is also often assumed that silver tends upwards in price especially when short-term investors see great opportunities that it is worthwhile to become active on the long side. What could still have a price-increasing effect are unpleasant surprises or crises. And pandemic events are also still in full swing. Silver and gold are considered safe havens. The reason is probably the approach that is thousands of years old: gold and silver are and have always been valuable rare elements.
Silver price is known to be volatile, but big downside risk also means there is big upside risk at the same time. So, if you want to bet on the tried and true silver, take a look at Vizsla Silver or Summa Silver, for example.
Vizsla Silver - https://www.youtube.com/watch?v=es_UTLpyqhg - owns the Panuco silver-gold mine in Mexico. Under an agreement with Cariboo Resources, the company will add an interest in the Carruthers Pass copper property in British Columbia. This will then be spun off with a company-owned copper project.
Summa Silver will soon begin the new drilling program at its Hughes project in Nevada. Summa Silver's second project, the Mogollon project, is also located in a high-grade silver region, in New Mexico.
Current corporate information and press releases from Vizsla Silver (https://www.resource-capital.ch/en/companies/vizsla-silver-corp/) and Summa Silver (https://www.resource-capital.ch/en/companies/summa-silver-corp/).
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