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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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PRODUCER |
CODE : PAAS |
ISIN : CA6979001089 |
CUSIP : 697900108 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Pan American Silver is a silver producing company based in Canada. Pan American Silver produces silver, copper, gold, lead and zinc in Argentina, in Bolivia, in Mexico and in Peru, develops gold and silver in Mexico, and holds various exploration projects in Argentina and in Mexico. Its main assets in production are QUIRUVILCA MINE, HUARON and MOROCOCHA in Peru, LA COLORADA, ALAMO DORADO, LLUVIA DE ORO and DOLORES MINE in Mexico, SAN VICENTE in Bolivia and MANANTIAL ESPEJO in Argentina, its main asset in development is LA PRECIOSA in Mexico and its main exploration properties are 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 and LA BOLSA in Mexico, FLAMINGO, ESPEJO, REGALO, NAVIDAD, CALCATREAU, HOG HEAVEN, WATERLOO and LOMA DE LA PLATA (NAVIDAD) in Argentina, RIVER VALLEY PGM in Canada and PICO MACHAY in Peru. Pan American Silver is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 2.9 billions as of today (€ 2.7 billions). Its stock quote reached its lowest recent point on November 07, 2008 at US$ 10.01, and its highest recent level on April 25, 2024 at US$ 19.03. Pan American Silver has 153 176 265 shares outstanding. |