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Gold at 2-Month High on Safe-Haven Calls Gold and silver
Gold and silver future prices for April and March expiration, respectively, rose by 1.4% and 2.2% on Tuesday, January 26, before the FOMC (Federal Reserve Open Market Committee) gave its verdict on the key interest rate yesterday. The overall market sentiment favored the rise of precious metals as a result of the safe-haven calls that began when the equity markets started struggling.
Over the last month, gold and silver have risen by 4.8% and 4%, respectively. The rise of these metals has gone hand-in-hand with the rise of the US dollar. The US Dollar Index (DXY), which measures the US dollar against six major world currencies, has also risen by about 1.2% over the past month. The safe-haven calls have also been reflected in the dollar, as it is a currency often chosen during times of uncertainty.
An important indicator for calculating the relative performance of gold and silver is the gold-silver ratio, or the gold-silver spread, which represents the number of silver ounces required to buy a single ounce of gold. The gold-silver ratio was 77.7 yesterday. This is approximately 1.4% higher than the 100-day moving average of 76.6.
The above chart shows that silver gained strength compared to gold in December 2015, as the gold-silver ratio fell to approximately 75 following the FOMC’s mid-December meeting. The rise of interest rates in December weighed on gold, which also pulled the spread lower.
Miners rise
The Global X Silver Miners ETF (SIL) and the SPDR Metals and Mining ETF (XME) have fallen by 6.4% and 14.5%, respectively, since the beginning of the year. Mining-based equities like Pan American Silver Corporation (PAAS), Silver Wheaton Corporation (SLW), and Yamana Gold (AUY) have risen by 14%, 6.9%, and 12.9%, respectively, on a trailing-five-day basis. These three stocks make up 10.5% of the Market Vectors Gold Miners ETF (GDX).
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Silver Wheaton
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PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Silver Wheaton est une société basée au Canada. Silver Wheaton est productrice d'argent, de cuivre, d'or, de plomb, de silica et de zinc au Canada, au Mexique, au Perou, au Portugal, en Grece et en Suede, en développement de projets d'argent, de cuivre, d'or et de zinc au Canada et au Chili, et détient divers projets d'exploration au Portugal et en Argentine. Ses principaux projets en production sont ZINKGRUVAN en Suede, KENO HILL (BELLEKENO) et MINTO MINE au Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN et G-9 CAMPO MORADO au Mexique, YAULIYACU au Perou, STRATONI en Grece et NEVES-CORVO au Portugal, ses principaux projets en développement sont PASCUA LAMA au Chili et KUTCHO CREEK au Canada et ses principaux projets en exploration sont PROMOTORIO DURANGO et MONTOROS au Mexique, ALJUSTREL au Portugal et LOMA DE LA PLATA (NAVIDAD) en Argentine. Silver Wheaton est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 12,6 milliards CA$ (9,2 milliards US$, 8,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 09 mars 2007 à 10,01 CA$, et son plus haut niveau récent le 15 mai 2017 à 28,53 CA$. Silver Wheaton possède 441 520 000 actions en circulation. |