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Massive silver sell-off in bullion market (Part 1 of 2) Silver price volatility
Silver April futures closed at $15.80 per ounce on March 6, 2015. They tested the lows on December 29, 30, and 31, 2014. This was the eighth down day in the last ten trading sessions, and there have been 0.51% more average up days than down days over the last ten days.
Silver declines
On March 6, April silver futures traded in COMEX (the commodities exchange division of the New York Mercantile Exchange) closed near the day’s low. Prices were down by 2.17% compared to the last trading session, and the total volume was at 41,153 contracts at the close of trading. Volume accelerated from the previous day by 18,753 contracts.
Silver prices are trading lower by 67% from the peaks of April 2011. The appreciating dollar, strong US economic growth, and sluggish industrial demand led to the decline in silver prices.
February and early March 2015 saw monthly silver continue its downtrend, led by a strong dollar and improving US economic conditions. A heavy sell-off from precious metals traders and jewelers due to sluggish demand led the massive decline of silver last week in the bullion market. Industry surveys suggest that the pain is not yet over for silver.
The fall of silver impacts key silver ETFs like the iShares Silver Trust (SLV) and the ProShares Ultra Silver ETF (AGQ). It also negatively affects silver stocks like Pan American Silver Corp. (PAAS), Silver Wheaton Corp. (SLW), and Hecla Mining Company (HL).
Continue to Part 2 Browse this series on Market Realist:
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Pan American Silver Corp.
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PRODUCTEUR |
CODE : PAAS |
ISIN : CA6979001089 |
CUSIP : 697900108 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Pan American Silver est une société de production minière d'argent basée au Canada. Pan American Silver est productrice d'argent, de cuivre, d'or, de plomb et de zinc au Mexique, au Perou, en Argentine et en Bolivie, en développement de projets d'argent et d'or au Mexique, et détient divers projets d'exploration au Mexique et en Argentine. Ses principaux projets en production sont QUIRUVILCA MINE, HUARON et MOROCOCHA au Perou, LA COLORADA, ALAMO DORADO, LLUVIA DE ORO et DOLORES MINE au Mexique, SAN VICENTE en Bolivie et MANANTIAL ESPEJO en Argentine, son principal projet en développement est LA PRECIOSA au Mexique et ses principaux projets en exploration sont ORO BLANCO, EL DURAZNO, SAN ANTONIO ORO BLANCO, SANTA LUCIA, REAL VIEJO, PLANCHAS DE PLATA, LA DURA, LA RESERVA / EL CORREO, LA VIRGINIA GOLD/SILVER, LA CRUZ et LA BOLSA au Mexique, FLAMINGO, ESPEJO, REGALO, NAVIDAD, CALCATREAU, HOG HEAVEN, WATERLOO et LOMA DE LA PLATA (NAVIDAD) en Argentine, RIVER VALLEY PGM au Canada et PICO MACHAY au Perou. Pan American Silver est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,1 milliards US$ (2,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 07 novembre 2008 à 10,01 US$, et son plus haut niveau récent le 12 septembre 2024 à 20,51 US$. Pan American Silver possède 153 176 265 actions en circulation. |