According to the Silver Institute, global silver ETPs (Silver Backed Exchange Traded Products) rose nearly 297 million ounces in the third quarter of 2020, a threefold increase compared to the same period last year. ETP holdings at the end of September were 1.026 billion ounces.
The demand for silver coins is just as strong. After all, the increase in the first three quarters of 2020 is a good 65 percent. In the USA and Germany in particular, significant double-digit increases in coins went over the counter. Silver bars were also in great demand.
Since around 50 percent of the silver mined goes to industry, it is important to take a look at industry demand. A recovery can be seen here in the third quarter and in the current fourth quarter. The photovoltaic industry in particular has shown strength despite Corona. Overall, however, around ten percent lower industrial demand is expected for 2020 as a whole.
There has been a lower demand in the jewelry sector in the current year, which can amount to an estimated 20 percent. Nevertheless, the overall demand situation for silver can be assumed to be solid, because the monetary policy and fiscal measures continue and the gold price rises again, which could result in large purchases, especially for silver. Because the gold price pulls the silver price up with it. The Silver Institute believes a price of 30 US dollars is possible this year.
Enough reasons to invest in silver companies, for example in Endeavor Silver – https://www.youtube.com/watch?v=qO9nLFFsrVc -. Three silver-gold mines in Mexico returned approximately 942,000 ounces of silver and nearly 10,300 ounces of gold in the third quarter of 2020.
Summa Silver – https://www.youtube.com/watch?v=yFtmbWa4_6g – Not in production yet, but seems to have hit the jackpot with its historic Belmont mine in Nevada. Drilling has already produced very positive values (e.g. 3,760 grams of silver equivalent over 2.5 meters).
Current company information and press releases from Endeavor Silver (- https://www.resource-capital.ch/de/unternehmen/endeavour-silver-corp/ -) and Summa Silver (- https://www.resource-capital.ch/de/unternehmen/summa-silver-corp/ -).
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