In the 12 months since then, silver’s value has climbed 63 percent, and according to CPM Group’s latest market overview, the metal is anticipated to continue its growth trend over the next three years at least.
However, said Jeffrey Christian, the versatile metal is first likely to move sideways near current levels and could even test the US$23 level before a substantial price tailwind is registered.
“We wouldn’t be surprised to see the price go back up and test US$30 or US$32 over the next several months,” said Christian, who is a managing partner at the firm.
He went on to note that market fundamentals have positioned the white metal to potentially surpass its previous US$50 highs, set in 1980 and 2011. However, before that can happen, the metal will hit a relatively modest growth pace in late 2021 or early 2022.
Along with Canyon-SRAM’s Mikayla Harvey, Fisher-Black is considered one of the top prospects in women’s cycling, but she will have to wait until Paris 2024 to vie for a spot on the Olympic podium. Both Fisher-Black and Harvey would have targeted winning a medal in Tokyo given their rapid rise through the ranks but New Zealand failed to collect enough points to qualify a single spot during the window between October 2018 and 2019 – back when Fisher-Black was still riding as an amateur. In her first season as a professional, the 20-year-old won the national title, finished second on the final stage of the prestigious Giro Rosa, cracked the top 15 at the World Championship and signed a contract with WorldTour heavyweights SD Worx.
Production disruptions at Russia’s Norilsk Nickel have impacted the platinum and palladium markets, aiding in positive price action for both.
Supply challenges continue to drive the palladium price higher, and the metal registered a fresh all-time high of US$3,052 per ounce this week.
As palladium moved upward, volatility rocked gold, sending it from US$1,788 per ounce on Wednesday (April 28) to US$1,755 less than 24 hours later.
The yellow metal had been on course for its first monthly gain in four weeks, but positive economic data out of the US pushed 10 year Treasury yields higher, a headwind for gold.
After dipping as low as US$1,724.80 on March 1, the safe haven asset was approaching the US$1,800 mark this week before retreating.
The future of the Australian diamond sector is now heavily reliant on exploration, with firms vying to make another large discovery.
Click here to read part one of this article, which covers t
he closure of the Argyle diamond mine.
When the mining equipment permanently shut down at Western Australia’s Argyle mine in November 2020, the country’s diamond sector entered a transitional period.
As the world’s fourth largest diamond-producing asset shuttered, domestic output of the gems instantly declined by as much as 90 percent.
The future of the Australian diamond-mining sector is now heavily reliant on exploration, with several companies vying to discover another formidable source of rare diamonds.