Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Silver’s drop could be only temporary after prices retreated from a 31-year high reached in late April as traders watched crude oil values decline. Prior to that, silver was a sizzling hot commodity favored by small investors and money managers, and Dillon Gage experts say not to write it off now.
Terry Hanlon, president of Dillon Gage Metals, the Dallas-based, precious-metals trading firm, said, “This year, silver had its biggest run in the shortest period of time in recent memory. Profit-taking corrections are to be expected when markets rally.”
