| Silver Swings Up and Down after the Fed Meeting | |
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Precious Metals Take a Nasty Fall as We Ring in the New Year (Continued from Prior Part) Silver gets volatile
The past week has been disastrous for silver prices. Silver futures for March expiration rose about 2.9% on a five-day trailing basis, making it the worst-performing precious metal for the past year. Platinum is the only precious metal that gained. It rose 0.59% during the last five trading days. Platinum rose 4.8% during the month of December. palladium rose 1.8% during the past one month. Gold and silver have made 30-day trailing losses of 0.28% and 4.5%, respectively.
Among the four precious metals, silver has been very volatile. The average ten-day volatility of silver is around 23.2 compared to a 13.5 volatility for gold on a ten-day average basis.
As you can see in the above graph, silver has seen days of major rises and falls after the Fed meeting in December. Although the overall trading range remains narrow, silver was trading between $13.50 and $14.80 per ounce.
Silver ETF and mining
The rise and fall in silver led to a 2.8% fall in the iShares Silver Trust (SLV) during the past five trading days. The leveraged ProShares Ultra Silver (AGQ) fell 5.9% in the past five trading days.
The volatility in silver prices also extends to silver-based mining companies such as Silver Wheaton (SLW), Pan American Silver (PAAS), and First Majestic Silver (AG). These three companies have seen losses of 39.5%, 29.1%, and 35.5%, respectively, on a year-to-date basis. The five-day trailing returns for silver also remained negative due to plunging silver prices. The above three companies fell 1.8%, 0.6%, and 1.8%, respectively, on a five-day trailing basis. These companies together make up 7.1% of the price changes in the Market Vectors Gold Miners ETF (GDX).
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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. |