| Silver Reaches $16 Mark—What Lies Ahead? | |
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Silver Leads and Gold Follows (Continued from Prior Part)
Silver shines
Silver futures on Comex, a commodity division of the New York Mercantile Exchange, have risen for four straight days. They rose nearly 13% over the four-day period, bringing YTD (year-to-date) profit to 2.35% and putting behind precious metal counterparts. Silver futures settled at $15.984 per ounce on Tuesday, October 6, rising 1.76%. They also reached a high of $16.09 per ounce—their highest level in the last three months. Silver has had a five-day trailing rise of 9.73%, outpacing gold, platinum, and palladium.
Nearing the 200-day moving average
With Chinese markets still closed for the Golden Week celebrations, gold also rose but again lagged silver prices, touching a high of $1,151 an ounce. Silver prices rose, reversing all of the last three months’ falls against the US dollar. It has risen almost 14% from August lows of $14 per ounce. Bearish betting against silver by money managers trading US Comex futures and options grew 15% in the past week. Let’s not forget the extreme long position that Warren Buffet has in silver.
It seems that the strong global trend due to a possible delay in the rate hike has supported the precious metals and dimmed the prospects of the US dollar. Silver rose above its 100-day moving average and has neared its 200-day moving average at $15.93.
Silver-backed ETFs have risen due to the rise in the second favorite precious metal. The iShares Silver Trust ETF (SLV) and Global X Silver Miners ETF (SIL) have risen 7.87% and 17.27%, respectively, on a five-day trailing basis. Silver mining companies such as Hecla Mining (HL), Silver Wheaton Corp. (SLW), and First Majestic Silver Corp. (AG) have risen 19.79%, 22.35%, and 29.63%, respectively. These three companies make up ~7% of the Market Vectors Gold Miners ETF (GDX).
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Silver Wheaton
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PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Silver Wheaton est une société basée au Canada. Silver Wheaton est productrice d'argent, de cuivre, d'or, de plomb, de silica et de zinc au Canada, au Mexique, au Perou, au Portugal, en Grece et en Suede, en développement de projets d'argent, de cuivre, d'or et de zinc au Canada et au Chili, et détient divers projets d'exploration au Portugal et en Argentine. Ses principaux projets en production sont ZINKGRUVAN en Suede, KENO HILL (BELLEKENO) et MINTO MINE au Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN et G-9 CAMPO MORADO au Mexique, YAULIYACU au Perou, STRATONI en Grece et NEVES-CORVO au Portugal, ses principaux projets en développement sont PASCUA LAMA au Chili et KUTCHO CREEK au Canada et ses principaux projets en exploration sont PROMOTORIO DURANGO et MONTOROS au Mexique, ALJUSTREL au Portugal et LOMA DE LA PLATA (NAVIDAD) en Argentine. Silver Wheaton est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 12,6 milliards CA$ (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. |