Silver prices have finally begun playing some catchup to gold. Perhaps speculators in the futures market have finally begun paying attention to fundamentals like supply and demand.
Q4 Fiscal 2024 Operational Results show Gold production of 1,916 ounces, up 92% over the same quarter last year ("Q4 Fiscal 2023"); Silver equivalent (only silver and gold) production of approximately 1.3 million ounces, up 11% over Q4 Fiscal 2023
Silver enjoyed another solid week up, gaining 2.8%. Silver is now up 19.7% in 2024. Silver is the poor man’s gold and, with gold soaring to over $2,400, many are instead shifting to silver.
CEO Harris: "This positions the Santa Ana project as one of the world's highest-grade primary silver endeavors, promising exceptional recoveries and highly marketable concentrates."
Gold has been hitting record highs — why there's a bullish case for silver tooSilverSeekSun, 04/21/2024 - 09:42
Despite the big selloff Friday, the spot price of silver had its first weekly close above $28 since 2013. It's possible the shorts and price manipulators are out of runway.
Brickman says that investing in silver isn't solely for wealth accumulation but rather as insurance against volatility, highlighting the metal's potential to skyrocket unpredictably.
India in February purchased a whack of silver bullion, with silver imports surging 260%. The country bought 2,295 tonnes compared to just 637t in January — a new monthly record.
With a close over $28 this past week, silver has now successfully broken out: first over $26, then over $27.50, the early 2022 high. Remaining is a breakout over the February 2021 high of $30.35.
