On Tuesday, October 22, spot silver prices surged by over 3%, reaching a new 12-year high. Silver hit $34.86 per ounce during the session, closing at $34.847 per ounce, the highest price recorded since late 2012. This price increase comes amid broader risk aversion in global markets, even as US Treasury yields continue to rise....
READ MOREPolish mining giant KGHM reported mixed results for its production and sales in September 2024, according to a market filing on its preliminary figures. The company’s copper sales reached 65,600 tonnes, representing an 8% year-on-year increase, while payable copper production rose by 3% to 61,400 tonnes. Silver production experienced a decline, with payable silver output...
READ MORESilver has delivered thirty-five percent returns in the first nine months of 2024, surpassing gold’s thirty percent. Motilal Oswal Financial Services remains optimistic about silver, suggesting it could continue to outperform gold in the near term. Navneet Damani, head of research for commodities and currencies, highlighted silver’s safe-haven appeal, which has driven its growth, along...
READ MOREKGHM, the Polish mining group, reported a 43% decline in payable silver production in August, with output reaching 75.1 tonnes due to a maintenance shutdown at its precious metals plant. Silver sales also fell, amounting to 85.1 tonnes, down 34% year-on-year. Despite the drop in silver production, KGHM’s copper operations performed strongly. Payable copper production...
READ MOREStarting January 1, 2025, New Jersey will join 44 other U.S. states in eliminating sales tax on purchases of gold, silver, and other precious metals exceeding $1,000. The move reinforces the constitutional recognition of gold and silver as legitimate forms of payment. This change aligns with the principle that sales tax should apply to consumer...
READ MOREThe Rochester mine, part of Coeur Mining, is on track to meet its full-year 2024 production guidance, with plans to process 8.0 million tons of ore per quarter in the second half of the year. The company anticipates producing between 4.8 to 6.6 million ounces of silver and 37,000 to 50,000 ounces of gold for...
READ MORESpot silver surged by more than 4% on Thursday, closing the session at $29.86 per ounce, driven by a weakened U.S. dollar and positive technical momentum. According to FXStreet analyst Christian Borjon Valencia, silver prices saw a sharp rally from a daily low of $28.54 per ounce, peaking at $29.90 as the U.S. Dollar Index...
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In Wednesday’s Asian trading, spot silver extended its downward movement, dropping below the key $28.00 per ounce barrier after a significant decline the day before. Spot silver closed Tuesday’s session 1.77% lower at $28.03 per ounce, and by mid-Wednesday, prices had fallen further to $27.90 per ounce. FXStreet analyst Christian Borjon Valencia highlighted that this...
READ MOREVedanta, the Indian multinational mining giant, has announced plans to develop two new industrial parks focused on aluminium and silver-zinc production. The news was shared by Vedanta’s chairman, Anil Agarwal, on LinkedIn on August 28, where he hinted at future projects for similar parks in the oil & gas and iron & steel sectors. In...
READ MOREChinese mining giant Zijin Mining Group Co. has expressed concerns about revising its strategy for acquiring assets abroad through mergers and acquisitions, citing a slowing global economy, rising geopolitical tensions, and increasing project costs. This cautionary stance was highlighted in a recent press release from the company. China’s pivotal role in global mining supply chains,...
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