| Silver Remains Bearish Owing to a Global Market Slump | |
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Why Pessimism Continues for Precious Metals (Continued from Prior Part) Retreating silver prices
Silver, like gold, is a preferred way to diversify a portfolio. Silver investments most likely correlate with gold counterparts. Currently trading at a six-year low, silver is set to end the 2015 year with downside returns. It may be the fourth down year in a row. Silver futures on COMEX, a commodity division of the New York Mercantile Exchange, lost 3.8% on its most actively traded contract. It closed at $14.54 with a day’s low of $14.47 per ounce. Silver has seen a year-to-date, or YTD loss, of 6.26%.
Miner carnage
Silver-backed ETFs that have fallen due to slipping silver prices include the Global X Silver Miners ETF (SIL) and the iShares Silver Trust (SLV). These ETFs have fallen by ~6% and 3.8%, respectively.
With the US economy stabilizing and inflation reaching the target 2% mark and lower unemployment, the Federal Reserve is expected to raise interest rates at the end of the year. Higher interest rates increase the yield on interest-bearing assets like bonds, which decreases the appeal of precious metals as silver, gold, and platinum. This could put additional short-term pressure on silver prices in 2015.
However, rising interest rates could be an indicator of economic growth that may boost silver prices in the coming year. Mining companies that may shine owing to improved silver prices include Pan American Silver (PAAS), Hecla Mining Company (HL), Silver Wheaton (SLW), and Coeur Mining (CDE). These four stocks’ share prices fell on Monday as silver retreated. PAAS, HL, SLW, and CDE gave up ~4.8%, 6.3%, 5.3%, and 6.8%, respectively. These stocks contribute ~8.3% to the Market Vectors Gold Miners ETF (GDX).
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Silver Wheaton
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PRODUCTEUR |
CODE : SLW.TO |
ISIN : CA8283361076 |
CUSIP : 828336107 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Silver Wheaton est une société basée au Canada. Silver Wheaton est productrice d'argent, de cuivre, d'or, de plomb, de silica et de zinc au Canada, au Mexique, au Perou, au Portugal, en Grece et en Suede, en développement de projets d'argent, de cuivre, d'or et de zinc au Canada et au Chili, et détient divers projets d'exploration au Portugal et en Argentine. Ses principaux projets en production sont ZINKGRUVAN en Suede, KENO HILL (BELLEKENO) et MINTO MINE au Canada, SAN MARTIN - LUISMIN, PEÑASQUITO, LUISMIN et G-9 CAMPO MORADO au Mexique, YAULIYACU au Perou, STRATONI en Grece et NEVES-CORVO au Portugal, ses principaux projets en développement sont PASCUA LAMA au Chili et KUTCHO CREEK au Canada et ses principaux projets en exploration sont PROMOTORIO DURANGO et MONTOROS au Mexique, ALJUSTREL au Portugal et LOMA DE LA PLATA (NAVIDAD) en Argentine. Silver Wheaton est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 12,6 milliards CA$ (9,2 milliards US$, 8,4 milliards €). La valeur de son action a atteint son plus bas niveau récent le 09 mars 2007 à 10,01 CA$, et son plus haut niveau récent le 15 mai 2017 à 28,53 CA$. Silver Wheaton possède 441 520 000 actions en circulation. |