silverinvesting
Pan American Silver (TSX:PAAS,NASDAQ:PAAS) has announced the sale of its 100 percent interest in La Arena, including the La Arena gold mine and the La Arena II project in Peru, to Singapore’s Jinteng Mining. Jinteng is a subsidiary of Zijin Mining Group (OTC Pink:ZIJMF,SHA:601899). Zijin will pay US$245 million cash upfront and grant Pan American a life-of-mine gold net smelter return royalty of 1.5 percent for the La Arena II project upon the deal closing. Additionally, upon the commencement of commercial production from the La Arena II project, an additional contingent payment of US$50 milli...
Investing News Network
Speaking to the Investing News Network, Craig Hemke, publisher of TFMetalsReport.com, shared his thoughts on what's behind gold's big price rise and current pullback, plus what could be next for the yellow metal. In his view, gold's move back below the US$2,400 per ounce level is completely normal — Hemke noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy. With that said, he does see strong upside potential for the precious metal in 2024. In his view, there are a lot of technical targets that line up with US$2,650 or US$2,700, ...
Investing News Network
Silver demand is forecast to reach its second highest level ever in 2024 at 1.2 billion ounces, driven by industrial market segments such as photovoltaics and electric vehicles. This high demand is coming alongside flat production growth, and is creating a situation that would seemingly be ripe for a price breakout. However, the first months of the year saw the metal trade in the US$22 to US$24 per ounce range. The beginning of March brought a shift in the market, and silver started to make gains. Following its sister metal gold higher, silver hit a quarterly high of US$25.71 on March 20 befor...
Investing News Network
2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less volatility and remained rangebound for the first eight weeks. Silver dropped to US$22.08 per ounce on January 21, marking its quarterly low. Silver started seeing gains in March with the expectation that the US Federal Reserve was getting closer to lowering interest rates. Improving sentiment gave the precious metals markets momentum, causing silver to reach its quarterly high of US$25.62 on March 20, before continuing on to an 11 year high of US$...
Investing News Network
Industrial demand for silver rose to a new record high in 2023, coming in at 654.4 million ounces (Moz). The surge was fueled by significant advancements in green economy sectors, particularly photovoltaics (PV), where demand skyrocketed by 64 percent year-on-year to hit 195.3 Moz, surpassing previous estimates. PV is included in the electrical and electronics segment, which experienced demand growth of 20 percent year-on-year. According to the Silver Institute's latest World Silver Survey, other green energy applications, such as power grid construction and automotive electrification, contrib...
Investing News Network
Speaking to the Investing News Network, Gareth Soloway, chief market strategist at VerifiedInvesting.com, shared his latest thoughts on gold, silver and Bitcoin, all of which have seen exciting recent price action. In terms of gold, he believes US$2,500 per ounce is a "lock" in 2024, with US$3,000 possible within 12 to 18 months. However, he cautioned investors that the yellow metal is likely to pull back before reaching those heights. "While I still think gold has more upside, you have to respect a trend line that goes back 40 plus years (showing) that we probably are due for some sort of pul...
Investing News Network
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