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India's February silver imports hit record and set to rise 66% this year
Read more at:
https://retail.economictimes.indiatimes.com/news/apparel-fashion/jewellery/indias-february-silver-imports-hit-record-and-set-to-rise-66-this-year/109134208
Momentum starting to build in the sector..
3SIL is a 3 x Leveraged futures play
The miners are starting to look perky after a long time in the doldrums.
GL
SILG.L (SIL Global X Miners ETF)
https://www.nasdaq.com/articles/3-strong-buy-silver-stocks-with-14-to-45-upside-potential
Accumulation zone in the 8’s.
SILVER/DOW ratio, Ag to outperform by a factor >50 to get back to 2011.
Boing boing
https://www.fxstreet.com/news/silver-price-forecast-xag-usd-fluctuates-amid-us-inflation-data-feds-commentary-202401112024
Is that it, have we bottomed or do we get the $21 handle?
Silver cash golden cross, RSI Mod (14) lowest in seven months, is this the DCL, or do we get as low as Fib 61.8?
EWT ABC correction could still see a low of $21.
Maybe a swing trade between $21 and $26, and go in heavy once $26 horizontal resistance breaks and retests and holds as support for at least 3 daily closes.
Why Silver, why now?
SILG constituent First Majestic, does a reasonable job of explaining;
https://www.firstmajestic.com/_resources/presentation/corporate-presentation.pdf?v=0.981
AI predicts $30-$35 Ag during 2024.
https://finbold.com/ai-predicts-silver-price-for-the-end-of-2024/
SILG.L constituent
Hecla Mining Company stands apart from other mining companies because we operate two of the largest silver mines in the world that contain the highest-grade silver equivalent ounces and we are the oldest U.S. precious metals mining company.
Our business is to create value for our shareholders by discovering, acquiring, developing, producing, and marketing mineral resources at a profit. Our mission is to create long-term value for shareholders from mining silver, gold and associated base metals.
Corporate Profile
Hecla Mining Company (NYSE:HL) is the largest primary silver producer in the United States and the third largest in the world.
With almost 17 million ounces of silver production expected in 2023 and potentially increasing to 20 million ounces by 2025, Hecla is expected to also become Canada’s largest silver producer.
We are the #3 lead and zinc producer in the U.S.
Hecla 100% owns and operates mines in Alaska (Greens Creek), Idaho (Lucky Friday), Quebec, Canada (Casa Berardi), and Yukon Territory, Canada (Keno Hill).
On a silver equivalent ounce basis, Greens Creek is the second largest and highest-grade primary silver mine in the world, and Lucky Friday is the seventh largest with the second highest grade.
Our silver assets continue to generate positive margins after covering all-in sustaining costs in low-price environments.
In 2022, Hecla produced our second highest ounces of silver, and record lead and zinc production. With our acquisition of Alexco Resource Corp., we delivered record silver reserves of 241 million ounces.
https://www.youtube.com/watch?v=df5TqzLXf94
Randy Smallman WPM CEO, largest SIL holding on CBNC, buy or sell signal?
https://www.cnbc.com/video/2023/12/29/the-fundamentals-behind-silver-is-always-better-than-gold-wheaton-precious-metals-ceo.html
Https://www.globalxetfs.com/funds/sil/
Increased position in PAAS.
https://www.business-humanrights.org/en/latest-news/guatemala-at-the-first-pre-consultation-meeting-of-the-pan-american-silver-escobal-mining-project-agreements-on-cultural-and-spiritual-impacts-are-signed/
Excellent, thank you
SIL negative divergence, overhead resistance, bullion banks loving thin markets, hope we get an ABC correction and final washout here with Ag with a 21 handle giving us time to load up before the money wave.