Spot silver prices experienced a significant surge of more than 4%, closing at $31.60 per ounce on Monday. This strong upward movement was highlighted in FXStreet analyst Christian Borjon Valencia’s latest article on the technical outlook for silver prices. According to Valencia, silver prices rebounded sharply from a low of $30.25/oz amid thin liquidity conditions. The technical indicators for silver...
Silver news
Spot Silver Plunges Below $31/oz Amid Hawkish Fed Minutes
On Wednesday, May 22, spot silver prices plunged by nearly 3.7%, falling below the $31 per ounce mark. FXStreet analyst Christian Borjon Valencia highlighted the technical trend of silver prices, noting a significant decline influenced by hawkish Federal Reserve minutes. Silver prices dropped more than 3.50% after reaching a daily high of $32.19 per ounce, ending the session down 3.69%...
Griffin Mining Reports Significant Revenue Growth for 2023
Griffin Mining has announced a substantial increase in revenue for 2023, reporting $146.02 million compared to $94.4 million in 2022. The AIM-traded firm’s gross profit rose to $51.84 million from $38.25 million year-on-year, while earnings before depreciation, interest, and tax increased to $51.86 million, up from $35.22 million the previous year. Operating profit saw a significant jump to $23.84 million...
Silver One Resources Discovers Additional Silver Vein Fragments
Silver One Resources has announced the discovery of new large silver vein fragments along the major east-west 417 vein structure, expanding the area of potential mineralization by over 600 meters to the west of the previously discovered 417-pound silver vein fragment. This fragment was estimated to contain over 70% silver. The newly found fragments include one weighing over 6 pounds....
Polymetals Resources Finalizes Acquisition of Endeavor Mine
Polymetals Resources has finalized revised agreements for the acquisition of the Endeavor Silver, Zinc, and Lead Mine from CBH Resources, a subsidiary of Toho Zinc. This development brings the mine closer to resuming production. Key aspects of the agreement include a deferment of the exchange of the Endeavor Mine Rehabilitation Bond for up to two years at a cost of...
Anil Agarwal of Vedanta Highlights the Growing Importance of ‘Green Metals’ Amid Gold Price Surge
Iluka Resources CEO Warns of China’s ‘Weaponization’ of Rare Earths Market Tom O’Leary, CEO of Iluka Resources, issued a stark warning about China’s strategic manipulation of the rare earths market during the company’s annual shareholder meeting in Perth. O’Leary described China’s control over the industry, particularly heavy rare earths, as nearly absolute, achieved through dominant production and influence on pricing...
Americas Gold and Silver Corporation Announces Q1-2024 Production Results and New COO Appointment
Americas Gold and Silver Corporation has released its first-quarter production results for 2024 and announced the appointment of Jim Currie as the new Chief Operating Officer. The company produced approximately 0.48 million ounces of silver, along with 8.0 million pounds of zinc and 4.0 million pounds of lead during this period. The Cosala Operations showcased strong performance with silver production...
Silvercorp Metals Outlines Operational Performance and Fiscal Projections
Silvercorp Metals Inc. has reported its production results for the fourth quarter of fiscal 2024, which ended on March 31, 2024, and has provided guidance for fiscal 2025. The company anticipates releasing its audited financial results for fiscal 2024 on May 23, 2024, after market close. Q4 Fiscal 2024 Highlights: The detailed operational data shows that the Ying Mining District...
Umicore Introduces Nexyclus: A Comprehensive Recycled Precious Metals Offering
Umicore has launched Nexyclus, a comprehensive service offering fully-recycled precious metals, including platinum-group metals (PGM), with three distinct types of certifications. This initiative is presented as the broadest global offering of recycled precious metals, aimed at addressing resource scarcity and the growing demand for responsibly sourced, low-carbon footprint materials. Nexyclus will provide 100% high-quality recycled metals, initially featuring gold, silver,...
Kedia Forecasts Silver to Surge in the Green Energy Era
Ajay Kedia, the director at Kedia Advisory, in a recent interview, projected a sharp increase in silver prices, predicting a rise to 150,000 rupees per kilogram in the next eighteen months. This uptick is attributed to escalating demands from industries pivotal to the green energy shift. Silver, traditionally driven by the photography sector, is now increasingly in demand for applications...