SMM7 March 20: Wheaton Precious Metals (Silver Wheaton) CEO Randy Smallwood said in a recent interview that the reduction in investment in base metals has helped push up silver prices.
Since silver is a by-product of lead and zinc, the supply disruption caused by the epidemic will reduce the supply of silver, and its price is not at its highest at present. "We spend a lot of time studying base metals, and it is precisely because most precious metals come from base metals," he said. "
In the past six months, the price of spot zinc has been less than $1 per pound, but recently it has begun to increase.
Generally speaking, supply shrinks and demand increases, which heralds a rise in commodity prices. Silver, which always lags behind gold, should have an outstanding performance this time.
He added that silver continues to be bullish on its industrial applications, such as mobile electronic devices, solar panels and water purification systems. Silver also has the strongest antibacterial activity.
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