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Silver is trading in a down trend—poised to test $15.40 per ounce (Part 1 of 2) Silver price action
Silver prices for the April futures contracts settled at $15.77 per ounce on Monday, March 9, 2015. It tested the lows on November 12 and 14, 2014. This was the eighth down day in the last ten days. The average of up days ended 0.50% more than the down days over the last ten trading sessions.
Silver settled at the day’s low
April silver futures settled at the day’s low. Silver prices declined marginally by 0.20% from the last trading day. On March 9, the total volume was at 23,779 contracts. The volume dropped by 20,760 contracts from the last session.
Poor man’s gold
Silver has been declining from the highs of April 2011. Robust US economic conditions, low industrial demand, and a strong dollar led to the massive drop in silver prices.
Last month and this month, silver’s trend is the same as the long-term trend. It remains in a downward trend. The strong dollar is driving silver prices lower. Bearish sentiments and market conditions are weak for silver. The market forecast for silver is also lower. Silver closed marginally lower on March 9, 2015. It was led by the consensus of a Federal Reserve rate hike—due to strong labor data and a strong dollar.
Lower silver prices will impact silver companies like Silvercorp Metals (SVM), Pan American Silver Corp. (PAAS), and Silver Wheaton Corp. (SLW). Lower prices affect silver-focused ETFs like the iShares Silver Trust (SLV) and the ProShares Ultra Silver ETF (AGQ).
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. |