| Could Gradual Hike Result in Gradual Loss for Precious Metals? | |
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Could Gradual Rate Hike Result in Gradual Loss for Precious Metals? (Continued from Prior Part) “Gradual” was the keyword
The FOMC (Federal Open Market Committee) emphasized the word “gradual” in reference to the rate hike. This emphasis may have likely buoyed precious metals, as they didn’t react very much to the Fed’s decision. Investors unanimously expected a fall in value assets like gold once the rates rose above zero. However, the fall didn’t occur, and gold added $15 to its previous day close, 1.4% higher at $1,076.8 an ounce on Wednesday, December 16.
Silver was the best-performing precious metal, as it surged 3.5% and ended at $14.3 per ounce. The volume in silver futures, however, remained significantly low compared to the previous trading days. Below is a chart that shows the three-month performance for silver. With the gain in silver, the RSI (relative strength index) rose from 28 to 43. A figure below 30 indicates a possible bounce back in the asset price.
The progressive stance of the Federal Reserve may result in a more gradual reaction from the precious metals in the coming days. Platinum and palladium gained 2.4% and 0.88% and closed at $876 and $572 an ounce, respectively.
Silver miners and ETFs
The hike in silver prices boosted the silver-based ETFs like the iShares Silver Trust (SLV) and the Global X Silver Miners ETF (SIL). These two indicators rose 2.9% and 3.7%, respectively, on Wednesday. Silver mining businesses like Silver Wheaton (SLW), Pan American Silver (PAAS), and Coeur Mining (CDE) all gained on the rise in silver prices. These three companies rose 2.5%, 6.4%, and 7%, respectively. Together these companies make up about 7% of the price fluctuations in the Market Vectors Gold Miners ETF (GDX).
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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. |