Looking back, in 2020 silver cost more than 20 US dollars per ounce for the first time in four years. In 2021, the price even rose to just under 30 U.S. dollars. The 26-dollar mark was exceeded in May 2023. Why do some industry experts now expect significantly higher prices. One point is that the situation now is comparable to that in 2001/2002. At that time, commodity prices went up significantly, it was the period after the dotcom bubble. Another point, he said, is that there is a deficit in the silver market, even though the figures from the Silver Institute speak a different language.

That many modern technologies such as solar panels, electric vehicles, wind turbines, computers and other electronic products need more and more silver is a fact. Factors that affect the price of gold also affect the price of silver – such as interest rate decisions by the Fed, the strength of the U.S. dollar, geopolitical squabbles and, of course, supply and demand. In addition, there is the close connection between gold and silver. If gold is in demand as a safe haven, this also pushes up the price of silver.

In the case of silver, there is also the industrial potential. Even if many do not believe in a possible triple-digit silver price, many assume that the metal is undervalued. This is because demand from industry is rising, while at the same time the mine supply is falling. Investors who believe in the future of silver and the undervaluation of the metal compared to gold can get into companies with silver, such as MAG Silver or Discovery Silver. Both have their promising projects in Mexico.

MAG Silver – https://www.commodity-tv.com/ondemand/companies/profil/mag-silver-corp/ – is involved in the prospective Juanicipio project.

Discovery Silver – https://www.commodity-tv.com/ondemand/companies/profil/discovery-silver-corp/ – has the Codero Silver Project, which has immensely large silver reserves.

Current corporate information and press releases from MAG Silver (- https://www.resource-capital.ch/en/companies/mag-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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