| Silver Was Treading Water as 2015 Came to an End | |
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Precious Metals Are Happy to Say Goodbye to 2015 (Continued from Prior Part) Two-week low
Silver has been the worst-performing precious metal during the past five trading days. Silver lost about 2.9% on a five-day-trailing basis and 1.5% on a 30-day-trailing basis. Silver futures for March 2016 expiry lost 0.62% and closed at $13.8 per ounce. This is the lowest close silver has had in about two weeks. The trading volumes are also almost half what they were near the December Federal meeting. Silver has been range-bound from $13.8 to $14.4. However, the volatility for silver is around 23, which is way higher than that of gold.
Technical analysis
The open interest seen in gold and silver futures contracts is more on call than on put. Higher call open interest may suggest that the trades are looking up for these metals and that we could see a rebound in prices. The RSI (relative strength index), which measures undervaluation and overvaluation, is at 43, just as it is for gold. The sentiment in the precious metals market has been bearish since the start of December. The RSI level was trading close to 30, which gradually rose to 50 during the Federal Reserve meeting. Now it is down once again.
The current trading price for silver is at a 6.7% discount from its 100-day moving average price of $14.8. The lower RSI and discount from the 100-day moving average suggests undervaluation. A possible rebound in silver prices may also lift up stocks like Coeur Mining (CDE), Pan American Silver (PAAS), and Silver Wheaton (SLW). The ETFs that may also benefit from a rise in silver include the iShares Silver Trust (SLV) and the Global X Silver Miners ETF (SIL).
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Silver Wheaton
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PRODUCER |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Wheaton is based in Canada. Silver Wheaton produces silver, copper, gold, lead, silica and zinc in Canada, in Greece, in Mexico, in Peru, in Portugal and in Sweden, develops copper, gold, silver and zinc in Canada and in Chile, and holds various exploration projects in Argentina and in Portugal. Its main assets in production are ZINKGRUVAN in Sweden, KENO HILL (BELLEKENO) and MINTO MINE in Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN and G-9 CAMPO MORADO in Mexico, YAULIYACU in Peru, STRATONI in Greece and NEVES-CORVO in Portugal, its main assets in development are PASCUA LAMA in Chile and KUTCHO CREEK in Canada and its main exploration properties are PROMOTORIO DURANGO and MONTOROS in Mexico, ALJUSTREL in Portugal and LOMA DE LA PLATA (NAVIDAD) in Argentina. Silver Wheaton is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 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. |