Mittelstandspresse
05.11.2026
Gold and Silver: Strategist Sees New Highs, Central Banks Are Buying
Herisau, 05.11.2026 (PresseBox) - Central banks bought 321 metric tons of gold in the third quarter, and a strategist considers new records possible. Sierra Madre is increasing throughput by more than 40 percent and Vizsla is advancing Panuco.
Advertisement — On behalf of Sierra Madre Gold and Silver Ltd. and Vizsla Silver Corp. SRC swiss resource capital AG maintains paid IR consulting agreements with both that are not contingent on success. Author: Ingrid Heinritzi. First published: November 5, 2026, 4:37 a.m. Berlin/Zurich time.
Gold and Silver: Forecasts Diverge Widely
In an interview on October 23, strategist David Hunter of Contrarian Macro Advisors said he considers gold at US$7,000 and silver at US$200 possible within three to six months. After that, he expects a broad market crash. On November 2, gold was trading at around US$3,950 and silver at around US$51 per ounce.
The start of the year showed how quickly silver can move: according to the Silver Institute, the price reached a record high of more than US$121 on January 29, 2026, and then fell back significantly. Support is coming from central banks: according to the World Gold Council, they bought 321 metric tons of gold in the third quarter, 42 percent more than a year earlier. For silver, the Silver Institute expects 2026 to be the sixth consecutive deficit year, at 46.3 million ounces.
Sierra Madre Increases Throughput at La Guitarra
Sierra Madre Gold and Silver - https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver-ltd/ - has been in commercial production since January 2025 at its La Guitarra gold-silver complex in Mexico. According to the release of September 28, following the first expansion phase, the plant is consistently processing up to 720 metric tons per day, more than 40 percent above the previous nameplate capacity of 500 metric tons.
A new ball mill is to be commissioned in November; with it, the company is targeting 1,200 to 1,500 metric tons per day. On June 22, Sierra Madre closed the purchase of the past-producing Del Toro silver mine. The restart is to begin in mid-2027, and production in mid-2028. Timelines and results remain contingent on successful execution.
Vizsla Silver Prepares for Construction at Panuco
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - owns 100 percent of the Panuco silver-gold project in Sinaloa, Mexico. The feasibility study of November 2025 envisages an average of 17.4 million ounces of silver equivalent per year over an initial mine life of 9.4 years. Silver equivalent is a calculated figure, not a pure silver grade.
On June 16, Vizsla awarded the supply contract for the main equipment for the processing plant. Following a fatal safety incident in January, work on site was suspended; according to the company, engineering and procurement are continuing. The environmental permit is still pending; CEO Michael Konnert is targeting the first silver pour for mid-2028.
Conclusion: Sierra Madre and Vizsla Silver Ahead of Milestones
Central bank purchases and the persistent silver deficit create a constructive environment for precious metals companies. At Sierra Madre, the new ball mill and the restart of Del Toro are what matter; at Vizsla, the environmental permit and the resumption of work on site.
Current company information and press releases: https://www.resource-capital.ch/de/unternehmen/sierra-madre-gold-and-silver-ltd/ and https://www.resource-capital.ch/de/unternehmen/vizsla-silver-corp/
Further information is available in our Precious Metals Report: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/
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Sources: Living Your Greatness, interview with David Hunter, October 23, 2026 · USAGOLD, precious metals prices, November 2, 2026 · Silver Institute, World Silver Survey 2026, April 15, 2026 · Golden Ark Reserve, bank forecasts for gold, October 2026 · World Gold Council, Gold Demand Trends Q3 2026, November 3, 2026 · Sierra Madre, Del Toro timeline, May 22, 2026 · Sierra Madre, Del Toro closing, June 22, 2026 · Sierra Madre, throughput of 720 t/day, September 28, 2026 · Vizsla, safety incident, January 28, 2026 · Vizsla, safety and operations update, February 12, 2026 · Vizsla, Panuco equipment contract, June 16, 2026 · Investing.com, Vizsla at the Mining Forum Americas, September 29, 2026; title image: AI-generated symbolic illustration
Transparency and Conflicts of Interest
Prepared and published by: SRC swiss resource capital AG, Poststrasse 1, 9100 Herisau, Switzerland. Author: Ingrid Heinritzi. Responsible within the meaning of Section 18(2) of the German Interstate Media Treaty (MStV): Marc Ollinger, CEO of Swiss Resource Capital AG, Poststrasse 1, 9100 Herisau, Switzerland. Completed: November 3, 2026, 11:45 a.m. Berlin/Zurich time. Issuers: Sierra Madre Gold and Silver Ltd. (TSXV: SM; OTCQX: SMDRF; WKN: A3CM97; ISIN: CA8263XP1041) and Vizsla Silver Corp. (TSX and NYSE American: VZLA; WKN: A40EG3; ISIN: CA92859G6085). The article is published on behalf of both issuers; both compensate SRC swiss resource capital AG under paid IR consulting agreements that are not contingent on success. The author is compensated for this article by SRC swiss resource capital AG. The paid IR agreements give rise to an economic interest in a positive presentation. Neither the author nor SRC swiss resource capital AG nor its affiliated companies hold shares, options, warrants, certificates, derivatives, or other long or short positions in securities of the issuers mentioned. Future purchases or sales are possible. None of the issuers holds an interest of 5% or more in SRC swiss resource capital AG. There are no market-making or investment banking relationships with the issuers. Prior to publication, the issuers did not receive the article.
Methodology and Risks
Editorial cut-off date: November 3, 2026. Public sources were cross-checked; company information is not independent. No proprietary drill data verification, resource estimate, feasibility study, or company valuation. The price forecast cited is the assessment of a third party; SRC does not adopt it as its own. Title image: AI-generated symbolic illustration; it does not show any real facilities or projects of the issuers. QPs of the original releases: Sierra Madre Gold and Silver—Gregory Smith, P.Geo., Director, not independent; Vizsla Silver—Jesus Velador, Ph.D., MMSA QP, Chief Geologist, not independent; Panuco feasibility study: Ausenco Engineering Canada ULC with Mining Plus and SGS. This does not constitute approval of this article. According to the company, production at La Guitarra is not based on a feasibility study with mineral reserves; this increases technical and economic uncertainty. Silver equivalents are based on the study’s metal price assumptions (US$35.50 per ounce of silver, US$3,100 per ounce of gold). Studies and timelines require, among other things, financing, permits, and safe access to the sites. The security situation in Mexico, permitting procedures, throughput and recovery, costs, metal prices, and exchange rates may materially change results and lead to a total loss. No routine updates are planned; statutory obligations remain unaffected.
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Paid marketing communication; not independent financial analysis, individual investment advice, or a solicitation to buy; not an offer of securities. Personal investment circumstances are not assessed. No guarantee of accuracy, completeness, or timeliness. Liability is excluded only to the extent permitted by law; excepted are intent, gross negligence, damage to life, body, or health, mandatory liability, and breaches of material obligations. In the event of a slightly negligent breach of material contractual obligations, liability is limited to foreseeable damage typical for this type of contract. The respective operators are responsible for external sites; SRC’s own statutory responsibility remains unaffected. AI was used for research, editing, and the title image. Editorial responsibility and the final human review remain with SRC. The article is intended for readers in Germany, Austria, and Switzerland and is not intended for persons in the United States. © 2026 SRC swiss resource capital AG. Redistribution with consent or statutory permission.
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Gold and Silver: Strategist Sees New Highs, Central Banks Are Buying
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