Gold pulls silver up in price
The silver price is rising, with seasonality likely being one of the reasons.
(PresseBox) - From a seasonal perspective, the silver price rises around mid-December, even more than the gold price. Seasonally, silver usually goes down a bit from mid-February to mid-December. This is due to industrial purchases, which increase at the end of the year. After all, silver is more than 50 percent an industrial metal. The silver price has left the US$20 mark behind and is now settling upward. A rally could be in the offing after the uptrend channel of the past few months was broken. After short-term investors have strengthened their long positions in the gold market and reduced short positions, this has not only benefited the gold price, but also pulled the silver price up with it. Optimism seems to be spreading on the silver market in particular.
Currently, the ounce of silver costs 21.43 U.S. dollars. According to the chart technicians, the next technical resistance is at 23.00 US dollars per ounce of silver. On the downside, the support is at 20.00 US dollars. Silver (and also gold) rise in price, if the bulls decide to enter early cheaply. Good entry opportunities were offered a few weeks ago, when the ounce of silver cost between 18.45 and 19.64 U.S. dollars. But even now it makes sense to expand silver positions. Because silver could push itself again into the old trading range between 23 and 28 US dollars. If one sets on silver companies, one receives still another lever on the silver price in addition. Discovery Silver or Tier One Silver could be considered.
Discovery Silver - https://www.youtube.com/watch?v=MzLKx2HriOw - scores with its Codero silver project in Mexico, an immensely large silver property that already has a positive pre-feasibility study.
Tier One Silver - https://www.youtube.com/watch?v=X7nDOPabASA - focuses on silver, gold and base metal projects in Peru. The main project Curibaya covers about 11,000 hectares.
Corporate information and press releases from Discovery Silver (- https://www.resource-capital.ch/en/companies/discovery-silver-corp/ -) and Tier One Silver (- https://www.resource-capital.ch/en/companies/tier-one-silver-inc/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
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Datum: 17.11.2022 - 08:07 Uhr
Sprache: Deutsch
News-ID 671272
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"Gold pulls silver up in price"
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