| How Has Silver Performed in the Current Rout? | |
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How Have Gold and Silver Performed in 2015? (Continued from Prior Part) Silver as a precious metal
The demand for silver mainly depends on the demand for jewelry and silverware, its industrial application, as well as overall industrial and economic growth. Other precious metals’ price fluctuations have impacted the price and volatility of silver (SLV). With a downfall for precious metals last week, its future took a similar hit. It fell 5.34% on a 30-day trailing basis. A similar performance was shown by the iShares Silver Trust (SLV). SLV fell ~5.85% on a 30-day trailing basis.
Silver miners
Miner ETFs like the Global X Silver Miners ETF (SIL) rose 1.53% yesterday. As the commodity rose to a level close to ~$14.60 per troy ounce, silver mining companies also followed the league. First Majestic Silver (AG) is a Canada-based silver mining company. It fell 1.25% on the last trading day. Silver Wheaton (SLW) is another Canadian mining company. It accounts for 4.81% of the Market Vector Gold Miners ETF (GDX). It rose 1.15%. Other miners that were affected include Pan American Silver (PAAS), Coeur Mining (CDE), Gold Fields (GFI), and Eldorado Gold (EGO).
The above chart confirms the downward trend in commodities’ precious metals segment. The inverted hammer during one of the last few trading days signifies a market day that was dominated by the buyers. It shows a probable support level for silver prices. The last trading day gave us a spinning top. It represents indecision and equal activity by both the buyers and sellers. Neither could have an upper hand. The prices ended up being only slightly lower than the previous trading day.
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Silver Wheaton
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PRODUCER |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Wheaton is based in Canada. Silver Wheaton produces silver, copper, gold, lead, silica and zinc in Canada, in Greece, in Mexico, in Peru, in Portugal and in Sweden, develops copper, gold, silver and zinc in Canada and in Chile, and holds various exploration projects in Argentina and in Portugal. Its main assets in production are ZINKGRUVAN in Sweden, KENO HILL (BELLEKENO) and MINTO MINE in Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN and G-9 CAMPO MORADO in Mexico, YAULIYACU in Peru, STRATONI in Greece and NEVES-CORVO in Portugal, its main assets in development are PASCUA LAMA in Chile and KUTCHO CREEK in Canada and its main exploration properties are PROMOTORIO DURANGO and MONTOROS in Mexico, ALJUSTREL in Portugal and LOMA DE LA PLATA (NAVIDAD) in Argentina. Silver Wheaton is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 12.6 billions as of today (US$ 9.2 billions, € 8.4 billions). Its stock quote reached its lowest recent point on March 09, 2007 at CA$ 10.01, and its highest recent level on May 15, 2017 at CA$ 28.53. Silver Wheaton has 441 520 000 shares outstanding. |