Silver is used to volatility. However, the breakout above 35 US dollars per troy ounce could represent a significant moment. After all, gold's little brother has only reached this price three times. This was the case in 2010 and just six weeks later an ounce of silver cost around USD 50. The fact that silver is undervalued is nothing new. With the price of gold at around USD 3,500 per ounce, the gold-silver ratio rose to more than 100, clearly demonstrating the undervaluation of silver. After the freezing of Russian currency reserves, many central banks increased their purchases of gold. At the end of last year, the Russian central bank announced that it would also rely on reserves in the form of silver, platinum and palladium. The times when central banks did not buy silver could be coming to an end. In recent decades, central banks in India, Mexico and the USA have also held certain amounts of silver.
For centuries, silver was the monetary metal par excellence. If more central banks were to come up with the idea of investing in silver, this would drive up the silver price. And silver is a good idea, as industrial demand is high and there is a silver deficit. The main consumers are the photovoltaic industry and the jewelry sector. Incidentally, silver wedding rings, for example, seem to be gaining popularity again due to the high price of gold. Platinum, an important metal in the automotive sector (car catalytic converters), could also benefit in terms of jewelry, as it is significantly cheaper than gold. The strong demand for gold from central banks will continue, as the reasons - geopolitical uncertainties, reserve management considerations, diversification away from the US dollar - remain. Private investors are also well advised to invest in gold and silver. This also includes the stocks of mining companies such as Discovery Silver or Skeena Gold and Silver.
Discovery Silver - https://www.commodity-tv.com/play/discovery-silver-insight-into-the-porcupine-acquisition-and-ongoing-work-at-cordero/ - owns the Codero project in Mexico. It has a reserve of 302 million ounces of silver.
In British Columbia, Skeena Gold & Silver is pleased - https://www.commodity-tv.com/play/skeena-gold-and-silver-developing-one-of-the-most-attractive-gold-projects/ -. The company is developing the past-producing Eskay Creek gold-silver project in British Columbia as well as the past-producing Snip projects.
Current company information and press releases from Skeena Gold & Silver (- https://www.resource-capital.ch/de/unternehmen/skeena-resources-ltd/ -) and Discovery Silver (- https://www.resource-capital.ch/de/unternehmen/discovery-silver-corp/ -).
In accordance with §34 WpHG, I would like to point out that partners, authors and employees may hold shares in the companies mentioned and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
Disclaimer: The information provided does not constitute a recommendation or advice. The risks involved in securities trading are expressly pointed out. No liability can be accepted for damages arising from the use of this blog. I would like to point out that shares and in particular warrant investments are always associated with risk. The total loss of the capital invested cannot be ruled out. All information and sources are carefully researched. However, no guarantee is given for the correctness of all content. Despite the utmost care, I expressly reserve the right to make errors, particularly with regard to figures and prices. The information contained herein comes from sources that are considered reliable, but in no way claims to be accurate or complete. Due to court rulings, the contents of linked external sites are also to be answered for (e.g. Hamburg Regional Court, in the ruling of May 12, 1998 - 312 O 85/98), as long as no explicit dissociation from these is made. Despite careful control of the content, I assume no liability for the content of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/de/disclaimer-agb/.