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Precious Metal Prices Recover as the US Dollar Retreats Gain in precious metals
Precious metals rose on Friday, December 18, 2015, after falling on Thursday. Precious metals seem to be following an alternating pattern since the Fed gave its verdict on the interest rate hike. Gold futures for February delivery rose by 1.5% and closed $15 higher. They settled at $1,065 per ounce. Gold almost touched its five-year low level during the fall on Thursday. Silver rose by 2.9% and closed $14.1 per ounce on Friday. Silver was the top performing precious metal on Friday.
Platinum and palladium also followed the leading precious metals. They rose by 1.9% and 0.27%, respectively.
Rankings
The gains in the precious metals were followed by gains in precious metal-based ETFs and the mining sector. The iShares Silver Trust (SLV) and the iShares Gold Trust (IAU) rose by 2.6% and 1.4%, respectively, on Friday. Currently, gold and silver are ranked at 11 and 14 respectively on the commodities market. They’re depicted by the S&P GSCI (Goldman Sachs Commodity Index). It contains 24 commodities.
Mining stocks like Gold Fields (GFI), Agnico Eagle Mines (AEM), and Silver Wheaton (SLW) also gave positive returns in Friday’s trade. These stocks rose by 0.38%, 4.1%, and 3.5%, respectively, on Friday. The stocks account for 13.6% of the price changes in the Market Vectors Gold Miners ETF (GDX). GDX rose by 2.2% on the same day.
The precious metals and the precious metal miners could have a tough time fighting the upcoming interest rate hikes in 2016. The recovery gains it keeps seeing could give falling precious metals a breather.
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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. |