Last year was a tough one for silver investors and miners.
The white metal started the year on a positive note, opening at just over US$17 an ounce, but then the wheels fell off and it plunged to under US$14 per ounce in mid-November 2018. While silver has rallied in recent days, following gold higher, to trade at US$15.70 per ounce, it is still well under US$17 an ounce and down by 8% over the last year.
According to some analysts, silver will remain stagnant over the course of 2019 with higher gold the only tailwind that will push the white metal higher. Significantly higher silver prices since July 2016 sparked a flurry of investment among miners as they expanded their operations and ramped up the tempo of mine-development activity. That saw a substantial supply surplus of over 35 million ounces emerge during 2018 compared to 2.4 million ounces a year earlier.
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