The supply outlook isn’t great for precious metals – particularly for silver. Most people don’t know it, but the majority of silver is produced as a byproduct of base metal mining. A lot of silver comes from mines where copper and zinc production is the primary focus. Copper and zinc prices have been falling this year as the outlook for manufacturing darkens. They may go lower still. There was hope of a strong recovery in China when stringent COVID lockdowns ended several months back. That hasn’t materialized, and the economic outlook there is grim. https://www.activistpost.com/2023/06/fundamentals-for-gold-and-silver-keep-improving.html