Silver price upswing ahead
The weakening US dollar is benefiting silver. Fears about the Chinese economy are still a hindrance.
(PresseBox) - There are fears that China s important economic development will harm the price of the industrial metal silver. This can also be seen in the price development of important industrial metals such as copper and iron ore. But if the stock markets stabilize, silver could benefit particularly strongly. In the long term, the prospects for silver remain very good. Demand is outstripping supply; silver is in deficit.
If the US labor market data is disappointing, the US dollar will fall. If there is further negative economic data, the dollar is likely to fall further. The upcoming interest rate cuts by the US Federal Reserve are also preventing the dollar from moving higher. Silver is therefore benefiting from two scenarios: a weak US dollar and interest rate cuts. In view of the drive for clean energy in China and worldwide, demand for silver will rise. The world s transition to green energy needs silver, because safety, precision and maximum reliability are in demand in high-tech industries. The fact that retail demand for silver jewelry could decline in the struggle for economic growth should not be so significant.
And if the silver price breaks through the 30-dollar mark, then the downward trend line that has been in place since May will also be broken. And then an upward trend should drive the silver price upwards. For investors, silver coins and bars stand for crisis resistance and value retention.
Investors should also keep an eye on the stocks of mining companies that own silver, such as Sierra Madre Gold and Silver - https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ - with its projects in Mexico. Silver and gold are the raw materials contained. The revitalization of the La Guitarra mine is progressing successfully.
Fortuna Mining - https://www.commodity-tv.com/ondemand/companies/profil/fortuna-mining-inc/ - also owns gold and silver in its properties. These are located in Mexico, Peru, Burkina Faso, Argentina and the Ivory Coast.
Latest company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Fortuna Mining (- https://www.resource-capital.ch/en/companies/fortuna-mining-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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Datum: 09.09.2024 - 08:32 Uhr
Sprache: Deutsch
News-ID 711187
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"Silver price upswing ahead"
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