| Silver Erased Its Gains from December 16 | |
| | |
|
Gold, Silver, Platinum, and Palladium Fell after the Rate Hike (Continued from Prior Part) Technical indicators
On December 17, 2015, silver futures for March expiry fell by 3.8%. It erased the gains from the day before. Silver rose by about 3.5% on Wednesday, December 16—the day that the Fed gave its verdict on the interest rate. It raised the interest rate by 0.25%. Silver fell about $0.55 and closed at $13.7 per ounce. Silver futures touched a low of $13.66 per ounce. The fall in silver bought the RSI (Relative Strength Index) to 35. It was 45 the day before. This brings its closer to a reversion level. Figures closer to 30 indicate that an asset is undervalued.
Silver is trading at an 8% discount to its 100-day moving average price. The technical indicators suggest a possible rebound in the price. However, the market sentiment indicates otherwise.
The rising US dollar pressured most of the commodities on Thursday including precious metals. The US dollar rose to a three-week high on Thursday. The fall in silver impacted silver-based funds like the iShares Silver Trust (SLV) and the ProShares Ultra Silver (AGQ). These two funds fell by 3% and 6.2%, respectively, on Thursday. These two indicators fell by 13.2% and 29.9%, respectively, on a YTD (year-to-date) basis.
Silver-based mining companies like Silver Wheaton (SLW), Pan American Silver (PAAS), and Coeur Mining (CDE) fell by 7.2%, 8.6%, and 9.1%, respectively, on Thursday. Together, they account for ~7% of the price changes in the Market Vectors Gold Miners ETF (GDX).
Continue to Next Part Browse this series on Market Realist:
|
|
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
| |
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. |