silverinvesting
It was a week of ups and downs for gold, which traded between about US$2,325 and US$2,361 per ounce. Investors were looking toward the latest personal consumption expenditures (PCE) price index data, which was released by the US Bureau of Economic Analysis on Friday (May 31) morning. It shows that PCE was up 0.3 percent month-on-month in April, and 2.7 percent from the previous year. Core PCE, which excludes the more volatile food and energy categories, was up 0.2 percent from March and 2.8 percent compared to last April. PCE is the US Federal Reserve's preferred measure of inflation, and it's...
Investing News Network
The US Bureau of Economic Analysis released its personal consumption expenditures (PCE) price index data for April on Friday (May 31). The release shows that PCE remained steady on both a monthly and yearly basis, matching the March rises of 0.3 percent and 2.7 percent, respectively. Core PCE, which excludes the food and energy categories, was up 0.2 percent on a monthly basis, a decline from March’s 0.3 percent rise; however, year-over-year it matched the 2.8 percent gain from the previous month. Increases to personal income cooled slightly on a monthly basis, coming in at 0.3 percent, down f...
Investing News Network
Speaking to the Investing News Network, Chris Ritchie, president of SilverCrest Metals (TSX:SIL,NYSEAMERICAN:SILV), shared his thoughts on how inflation continues to impact gold and silver miners, and explained why his company has chosen to hold precious metals on its balance sheet in this environment. SilverCrest's Las Chispas operation in Mexico went into production about two years ago, and Ritchie said that after paying back all of its debt in seven months the company had to decide what to do with the cash it had coming in. "Some of the knee-jerk responses were, 'Let's go build a new mine.'...
Investing News Network
China's silver imports may surge in the coming weeks, fueled by a combination of strong industrial demand and a price advantage in the Chinese market, according to a report by Bloomberg. The news comes on the heels of a strong year for silver demand. Silver Institute figures show that although overall demand fell 7 percent in 2023, it still outstripped supply, resulting in a third consecutive structural market deficit. This trend is expected to continue in 2024, with industrial demand forecast to rise by 9 percent. The primary driver for the expected increase in Chinese silver imports is the b...
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Metals Acquisition (MAC) (NYSE:MTAL,ASX:MAC) has signed a strategic investment deal with Polymetals Resources (ASX:POL), which is working to restart the Endeavor silver-zinc-lead mine and processing plant. The transaction will see MAC make an initial AU$2.5 million investment in Polymetals for a 4.31 percent interest in the company. An additional AU$2.5 million is on the table subject to several conditions outlined in a Monday (May 27) press release, including Polymetals securing enough funding to restart the mine and processing plant. The companies will also have to enter into a water offtake...
Investing News Network
Lynette Zang, founder and CEO Zang Enterprises, shared her thoughts on gold and silver prices in 2024, explaining how more and more people globally are turning to precious metals to safeguard their wealth. "That gives me tremendous hope, because that's who we need to wake up to what's happening. They're starting to buy gold, and that thrills me," she told the Investing News Network during an interview. "If we can get even 3 percent of the public to have a quiet revolution and convert their fiat money into sound money — physical gold and physical silver — it's all you have to do for a quiet rev...
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Speaking to the Investing News Network, Piche Resources Executive Chairman John Simpson stressed the need for diversity of supply from much more friendly jurisdictions to ensure security. Citing the company’s promising assets in Australia and Argentina, he said Piche will play an important role in the critical metals supply chain. “We saw both China and Russia politicise or militarise their commodities … I think that's created an enormous awareness (for) the need for diversity of supply from much more friendly jurisdictions (and) ensuring security (of supply),” he said. “Being a company that h...
Investing News Network
Will First Majestic Silver CEO’s silver price prediction of more than US$100 per ounce come true? The silver price made waves in 2020 when it rose above US$20 per ounce for the first time in four years, and the precious metal has repeatedly tested US$30 per ounce since. Most recently, the silver price broke through the US$30 mark on May 17 and went on reach a nearly 12-year high of US$31.80 in the next trading session. On May 19, the silver price hit US$32.33 per ounce, which remains its highest point as of May 21. Well-known figure Keith Neumeyer, CEO of First Majestic Silver (TSX:FR,NYSE:AG)...
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Gold and silver prices both made moves this week, with gold passing US$2,400 per ounce once again and silver finally breaking through the important US$30 per ounce mark. It's the first time the white metal has been there since 2013, and the milestone has sparked speculation about just how high it could go in this cycle. Momentum kicked in on Wednesday (May 15) after the release of the latest US consumer price index (CPI) data. It shows inflation rose 3.4 percent year-on-year in April, the first time it's cooled in 2024. On a monthly basis it was up 0.3 percent. The US Federal Reserve's target ...
Investing News Network
John Feneck, partner and portfolio manager at Feneck Consulting, shared his thoughts on gold, silver, copper and uranium, outlining his outlook for these commodities and stocks he's currently watching. Starting with gold, he said he thinks it's proven itself as a safe-haven asset, with more "smart money" now getting involved. At the same time, he sees gold-mining companies starting to put on positive performances. "We're off to the races in gold producers in terms of doing well at the earnings level, and that gets the attention of big money ... (and) that's what's needed to generate more inter...
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