Silver reached a new medium-term high of USD 32.51 per ounce (31.1 grams). Chart technicians still see the silver price within a bullish flag formation. It could therefore move upwards again. If the silver price breaks out of the flag formation, at around USD 31 per ounce, then it looks good for a new high to be reached. Analysts’ opinions for the silver price until the end of 2024 or mid-2025 range from 25 to 35 US dollars per ounce.

There are also voices that see the silver price exploding. Silver has had an eventful history. The Hunt brothers’ speculation drove the price of silver up to around USD 50 per ounce at the beginning of 1980. At that time, the stock exchange supervisory authority intervened and a dramatic fall in prices followed. The price of the precious metal fell or stagnated for around 20 years. A recovery began in the early 2000s. The price of silver is generally more volatile than the price of gold.

Around 50 percent of silver is in demand from industry, particularly from the electrical industry and the photovoltaic sector. Strong growth is forecast in the latter sector. In its role as an industrial metal, silver is of course fundamentally dependent on general economic developments, but also on interest rates, inflation and the price of gold. The European Central Bank has now cut interest rates, as has the Bank of Canada. This first interest rate cut is likely to be followed by others. The US Federal Reserve will also lower its key interest rate. This makes gold and silver more attractive. Together with the increasing use in the industrial sector, silver should shine, and with-it silver companies.

Discovery Silver – https://www.commodity-tv.com/ondemand/companies/profil/discovery-silver-corp/ – has silver-zinc-lead projects in northern Mexico, including the highly prospective Codero project, a world-leading silver project.

Vizsla Silver – https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ – impresses with its promising Panuco silver-gold project in Mexico.

Current company information and press releases from Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -) and Discovery Silver (- https://www.resource-capital.ch/en/companies/discovery-silver-corp/ -).

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