| Key for Investors: Is the Demand for Silver Growing? | |
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Analyzing Gold and Silver Ahead of the FOMC's Meeting Outcome (Continued from Prior Part) Silver rose in the past month
Silver futures on COMEX, the commodity division of NYMEX, is the only precious metal that rose on a YTD (year-to-date) basis. Other precious metals saw a fall in their prices. Silver futures have encountered a rise in its price of 9.4% on a 30-day trailing basis. As of Tuesday, October 27, silver’s trading price closed at $15.90 per ounce. It lost 0.26% from the previous day’s close.
Silver-backed ETFs like the leveraged ProShares Ultra Silver ETF (AGQ) and the Global X Silver Miners ETF (SIL) saw a rise in their prices of 17.2% and 18.8%, respectively. Mining companies that rose due to a rise in silver’s price include First Majestic Silver (AG), Silver Wheaton (SLW), and Pan American Silver (PAAS). These three companies rose 21.1%, 23%, and 31%, respectively, on a 30-day trailing basis. Together, they account for 7.2% of the Market Vectors Gold Miners ETF (GDX).
Growing demand
An important factor that affects the demand for silver is its increased use for solar energy. The amount of silver required for a solar panel is relatively high. It needs about 20 grams of silver. The figure is large if we compare the almost 250-mile grams of silver used in telephonic devices—compared to other electrical appliances that have an above-average demand for silver. Known as “the poor man’s gold,” silver is used as a hedge against global uncertainties, just like gold. However, the extensive industrial use pushes the metal as the economy grows.
We all know that the demand for solar energy is rising. Since silver is a crucial element in this form energy, it could also experience high growth for the foreseeable future.
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VanEck Vectors Global Alternative Energy ETF
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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 1,4 milliards (992,0 millions US$, 902,8 millions €). La valeur de son action a atteint son plus bas niveau récent le 09 mars 2007 à 10,01 , et son plus haut niveau récent le 15 mai 2017 à 28,53 . Silver Wheaton possède 47 442 200 actions en circulation. |