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Silver can't escape macro pressures – continues secular downtrend (Part 1 of 2) Silver price movement
Silver April futures contracts closed at $15.63 per ounce on March 10, 2015. These contracts trade on COMEX—a division of NYMEX (New York Mercantile Exchange). They tested the lows on December 23, 24, and 26, 2014. It’s the eighth down day in the last ten trading sessions. The average of up days closed 0.43% more than the down days over the same period.
Silver hits year low
COMEX silver futures closed at the day’s low—down by 0.91% at the close of trade on March 10, 2015. The traded volume was at 32,569 contracts. It increased by 8,163 contracts from the previous day.
Silver prices have been in a deep downward trend since April 2011. A stronger dollar, improved US economic outlook, and sluggish demand led to the collateral damage for silver prices.
This trend continued in February. It’s also continuing in March 2015. A strong dollar and US growth negatively impacted silver prices during this period. On March 10, 2015, silver prices trended lower. They hit yearly lows—driven by the same factors. Market sentiments are bearish for precious metals. A massive sell-off is taking place. Investors are pulling out money from gold and silver funds due to the increasing dollar.
As the silver prices decline, it puts pressure on silver ETFs’ margins—like the iShares Silver Trust (SLV) and the ProShares Ultra Silver ETF (AGQ). The prices also impact silver stocks like First Majestic Silver Corp. (AG), Pan American Silver Corp. (PAAS), and Silver Wheaton Corp. (SLW).
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. |