Indians love not only gold but also silver
(PresseBox) - For the fifth year in a row, net investments in physical silver increased and reached a new high.
Net investments in physical silver reached almost 333 million ounces in 2022. Silver prices were rather low, so Indians in particular went on silver buying sprees, namely with an increase of 188 percent compared to the previous year. Silver investments also went up in the USA, although not as extremely as in India. Australians increased their physical investments by around 15 percent. Overall, across all sectors, 2022 was a very successful silver year in terms of demand.
Looking at the supply side, it is noticeable that global mine production declined slightly in 2022. 2021 was also a very strong year after the pandemic disruptions were overcome. Production volumes from primary silver mines in 2022 were roughly unchanged from 2021, but production from lead and zinc mines, where silver is a by-product, declined. Silver production increased year-on-year in Mexico, and there were also increases in Argentina and Russia. Peru, on the other hand, struggled with social unrest that caused disruptions in mine operations. Grades also fell at various large mines. Silver recycling yields were three percent higher last year than in the previous year.
Recycling thus reached a ten-year high of more than 180 million ounces of silver, primarily from the industrial scrap sector. Given silver s many uses, including in renewable energy technologies, electromobility and electrification, silver should shine in the years ahead. This is positive for companies with silver in their projects, such as Vizsla Silver or Discovery Silver.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - owns 100 percent of the high-grade Panuco silver-gold project in Mexico.
Discovery Silver - https://www.commodity-tv.com/play/discovery-silver-advancing-one-of-the-largest-undeveloped-silver-deposits-in-the-world/ - can be pleased with its Cordero silver project in Mexico, it is one of the largest silver deposits on earth.
Latest corporate 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/ -).
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.
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Unternehmensinformation / Kurzprofil:
Datum: 25.04.2023 - 02:55 Uhr
Sprache: Deutsch
News-ID 682193
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"Indians love not only gold but also silver"
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