The current mixed situation in the precious metal sector makes the shares of gold-silver producers particularly interesting. While some are still a little sleepy, others are already under steam.
Gold’s hunt for records has recently lost some momentum, but the rally in silver is gaining momentum.
The current mixed situation in the precious metal sector makes the shares of gold-silver producers particularly interesting. While some are still a little sleepy, others are already under steam.
Please also read our comment on this: SILVER breaks out. Is silver now eclipsing GOLD?
Please also read our comment on this: Gold in distress after US inflation data. Was that it with the rally?
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Pan American Silver shares are rising massively.
With its well-diversified portfolio, the Canadian Pan American Silver is one of the more promising candidates in the gold-silver sector.
The Company reported 2023 silver production of 20.437 million ounces at AISC at $18.17 per ounce. Full year 2023 gold production was reported at 882,900 ounces at AISC at $1,371 per ounce. For 2024, Pan American Silver forecast silver production in the range of 21 million ounces to 23 million ounces at AISC between $16 and $18.50. Gold production is expected to be between 880,000 ounces and 1.0 million ounces at AISC of $1,475 to $1,575.
Extremely interesting chart image
But it’s not just the fundamental aspects that are convincing. The chart picture of the Canadian gold-silver producer Pan American Silver is no less interesting and promising.
The focus here is on the double bottom, which formed in the area of 12.2 US dollars in February of this year. This double bottom was completed with the breakout above $13.2 and has been having an impact ever since. Pan American Silver has recently picked up speed. The record hunt for gold and the rising silver prices acted as a catalyst for the share.
Pan American Silver seized the opportunity and broke $14. The stock is currently stuck at the resistance area of $14.3. A successful breakout above $14.3 would further fuel the price rally and open the door for Pan American Silver towards $15 or even $15.5. Any setbacks will remain limited to $13.2 in the best case scenario. Otherwise, caution would be required.
Spectacular gains in gold-silver stocks! You don’t want to miss any opportunities and stay up to date with the latest precious metals and raw materials trends? Then subscribe to our free newsletter now.
Gold-silver commodity trends
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Gold-Silver Commodity Trends is the information service for anyone interested in raw materials. We identify the important trends in the raw materials markets and give our readers concrete tips on how to implement promising strategies. Our focus is on gold, silver, crude oil and industrial metals. The analysis of interesting precious metal and raw material stocks rounds off our range of information.
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