| How Has a Drop in Prices Affected Silver Investments? | |
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Why Precious Metals Saw Their Worst Quarter in a Year (Continued from Prior Part) Leaving the $16 territory
Silver futures on COMEX, the commodity division of the New York Mercantile Exchange, rose in line with gold futures for five straight days last week. Silver touched a high of approximately $16.20 per ounce on Thursday. Friday saw a marginal decline of 0.31% and silver closed at $16.10 an ounce, still floating in the $16 range.
However, Monday proved a little less favorable as silver sunk ~1.7%, leaving the $16 territory. Below is a three-day pivot chart for silver that shows that for most parts of the day, silver traded in a narrow range of $15.90 to $16.20 per ounce. Though silver futures have gained 4.1% on a 30-day trailing basis, they have a five-day trailing loss of 0.74%.
Physical sales
American Silver Eagles seem to be on track for an annual record. Sales for the year stand at 37,129,500 coins. The figures are 6.8% higher than the same time last year. In 2014, when the record hit 44,006,000 on the supply side, the coins posted sales of 34,771,000 through October 12, 2014. The US Mint also limited sales last year but not during the summer months. The US Mint doesn’t offer bullion coins directly to the public. It sells through a network of authorized purchasers. Weekly inventories are typically claimed within the first two days. The last trading week, however, was an exception as the supply held out for four days.
Silver ETFs and miners
Silver-backed ETFs like the iShares Silver Trust (SLV) have also followed the gains and losses in silver. Silver rose 4.4% on a 30-day trailing basis and has lost about 0.13% on a five-day trailing basis. Other stocks that are into the silver mining business have also experienced a substantial drop in their prices. These stocks include First Majestic Silver (AG), Pan American Silver (PAAS), Hecla Mining (HL), and Silver Wheaton (SLW). These four stocks make up 8.5% of the Market Vectors Gold Miners ETF (GDX).
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PRODUCER |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Wheaton is based in Canada. Silver Wheaton produces silver, copper, gold, lead, silica and zinc in Canada, in Greece, in Mexico, in Peru, in Portugal and in Sweden, develops copper, gold, silver and zinc in Canada and in Chile, and holds various exploration projects in Argentina and in Portugal. Its main assets in production are ZINKGRUVAN in Sweden, KENO HILL (BELLEKENO) and MINTO MINE in Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN and G-9 CAMPO MORADO in Mexico, YAULIYACU in Peru, STRATONI in Greece and NEVES-CORVO in Portugal, its main assets in development are PASCUA LAMA in Chile and KUTCHO CREEK in Canada and its main exploration properties are PROMOTORIO DURANGO and MONTOROS in Mexico, ALJUSTREL in Portugal and LOMA DE LA PLATA (NAVIDAD) in Argentina. Silver Wheaton is listed in Canada, in Germany and in United States of America. Its market capitalisation is 1.4 billions as of today (US$ 992.0 millions, € 902.8 millions). Its stock quote reached its lowest recent point on March 09, 2007 at 10.01, and its highest recent level on May 15, 2017 at 28.53. Silver Wheaton has 47 442 200 shares outstanding. |