CEO Weber: "The Main Fault is showing itself to be a strong and complex fault structure capable of hosting high grade silver, gold, lead and zinc mineralization..."
This shortage of metal seems to have created an unusual setup in COMEX futures, as investors appear to be moving March contracts backward to January and February.
Silver demand has outstripped supply for four straight years, and the Silver Institute projects that 2025 will be the 5th. The structural market deficit was at 148.9 million oz in 2024.
Silver appears to be starting off the New Year where it left off. After a 143% gain, what could silver do next? Well, how about 9.2% in the first week and 11.5% up since December 31?
According to the London Bullion Market Association, China is home to 27 accredited silver refineries. The second largest number of refineries is in Japan, with only 13.
There’s a lot of talk about how the gold and silver prices could be affected by the rebalancing of the Bloomberg Commodity Index and the S&P Goldman Sachs Commodity Index.
Gold and silver were among last year’s strongest performers. Silver in particular had risen enough to push its index weighting well above the allowed range.
