Silver prices witnessed a decent surge this year and are expected to soar further. Silver’s industrial demand is expected to achieve a new high this year. However, economic and geopolitical factors continue to pose challenges for companies in the silver industry. So, avoiding fundamentally weak stocks Pan American Silver Corp. (PAAS), MAG Silver Corp. (MAG), and Dolly Varden Silver Corporation (DOLLF) could be wise now.
Over the past six months, precious metals, including silver, outperformed on Wall Street while maintaining an upward trend toward all-time highs, driven by the weakened U.S. dollar, recent banking crises, and economic uncertainty. Silver averaged $21.71 in 2022, began 2023 at $24, and has since been on an uptrend.
