Even though there is a certain volatility inherent in the silver price, silver is coming more into the focus of many investors. The uncertainties caused by the pandemic, which has not yet come to an end, persist. Looking at today’s silver price, which is around $24 per troy ounce, the question of interest is what the highest price for the precious metal was. In the late 1970s, an ounce of silver cost US$48.70 and that remains the highest price of silver today. However, the high price came about because the Hunt brothers, two well-heeled traders tried to corner the market by buying silver futures and physical silver.
The Hunt brothers’ activities ended with the price of silver plummeting to eleven US dollars in March 1980. Another high silver price was seen in 2011, when a troy ounce of silver cost $47.94. Currently, the price of silver has been and continues to be buoyed by the Corona pandemic. Last August, it tested the $30 mark. By August 2021, silver prices had fallen to US$23, but market watchers are eagerly awaiting the uptrend. Rising investment interest and supply bottlenecks in the industry can quickly help the price of the precious metal up sharply. For example, David H. Smith, analyst at the Morgan Report, predicted a possible silver price of over 50 US dollars per ounce for this year.
A look at silver companies should not be missing. Summa Silver or Ridgeline Minerals could help here.
Summa Silver – https://www.youtube.com/watch?v=b32Hz0gSSvo – may acquire a 100% option on the Hughes property in Nevada (former Belmont Silver Mine) and the Mogollon property in Mexico.
Ridgeline Minerals – https://www.youtube.com/watch?v=dKnSLrRIT8g – has four prospective projects (Carlin East, Bell Creek, Swift, Selena) in the Carlin and Battle Mountain-Eureka trends in Nevada with gold and silver commodities.
Current company information and press releases from Summa Silver (- https://www.resource-capital.ch/en/companies/summa-silver-corp/ -).
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