Gold and silver prices are continuing their upward move, even as gold miners Goldcorp (NYSE:GG), Seabridge Gold (Amex:SA), US Gold (AMEX:UXG) and Agnico-Eagle (TSE:AEM)(NYSE:AEM) all closed down, as it appears investors took some profits as the yellow metal continues its upwards run.
Gold closed at a new high, jumping $5.30 to settle at $1,509.10 an ounce at the Comex division of the New York Mercantile Exchange. Gold had ended the session above $1,500 for the first time last Thursday.
Today's Gold trading had the Globex June Gold contract trading at $1519.20 before a profit taking sell-off mid to latter part of the trading session.
Silver prices soared to a 31-year high again, settling at $47.15, up $1.09 for the day, or 2.4 percent. April silver futures in New York traded as high as $49.10 an ounce but dropped to close at $47.15 mark.
The more active May silver contract soared just shy of the $50 level, trading as high as $49.82 before falling back.
An incredible number of silver and gold contracts were sold Monday, reaching 109,000 for gold and 199,000 for silver. Silver prices were volatile, moving in a $4.18 range.
The majority of this is based upon the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake.
The DXY index of the U.S. dollar's value against a basket six other major currencies dropped 0.2 percent to 73.99, its lowest level since August 2008. It's down 6.4 percent so far in 2011.
Showing posts with label silver prices going up. Show all posts
Showing posts with label silver prices going up. Show all posts
Tuesday, April 26, 2011
Monday, April 25, 2011
Silver Wheaton (SLW) Pressured after Silver Misses Record
Shares of Silver Wheaton (NYSE:SLW) were under pressure as were other miners (HL) (PAAS) and (SSRI), after silver missed a record price level and pulled back.
Spot silver prices fell close to 2 percent, wiping out sharp initial gains, after a technical failure to take out a record price set in 1980 triggered a heavy bout of selling.
Spot silver XAG= was lower by 0.8 percent to $46.29 an ounce, off from a session high of $49.31. U.S. silver futures soared as much as over 8 percent to a intraday high of $49.82 an ounce, off an all-time peak of $50.35 set Jan. 18, 1980.
Canaccord Genuity recently upgraded Silver Wheaton from a "Hold" to a "Buy."
Silver Wheaton was trading at $41.61, falling $0.75, or 1.77 percent, as of 12:36 PM EDT.
Spot silver prices fell close to 2 percent, wiping out sharp initial gains, after a technical failure to take out a record price set in 1980 triggered a heavy bout of selling.
Spot silver XAG= was lower by 0.8 percent to $46.29 an ounce, off from a session high of $49.31. U.S. silver futures soared as much as over 8 percent to a intraday high of $49.82 an ounce, off an all-time peak of $50.35 set Jan. 18, 1980.
Canaccord Genuity recently upgraded Silver Wheaton from a "Hold" to a "Buy."
Silver Wheaton was trading at $41.61, falling $0.75, or 1.77 percent, as of 12:36 PM EDT.
Thursday, April 21, 2011
Barrick (ABX) (AZK) (RGLD) (JAG) Close Up as Gold Breaks Record Again
Aurizon Mines (AMEX:AZK), Jaguar Mining (NYSE:JAG), Royal Gold (Nasdaq:RGLD) and Barrick Gold (NYSE:ABX) closed Up on Wednesday as gold continues to break records on a daily basis recently.
Gold prices soared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery in at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
After breaking the $45 level, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record.
Gold and silver prices continue to soar on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index was plunging 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy, and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
Barrick Gold closed Wednesday at $54.81, gaining $0.58, or 1.07 percent. Royal Gold closed at $58.33, up $1.87, or 3.31 percent. Jaguar Mining ended the trading session at $5.90, rising $0.44, or 8.06 percent. Aurizon Mines closed at $6.84, jumping $0.21, or 3.17 percent.
Gold prices soared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery in at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
After breaking the $45 level, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record.
Gold and silver prices continue to soar on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index was plunging 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy, and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
Barrick Gold closed Wednesday at $54.81, gaining $0.58, or 1.07 percent. Royal Gold closed at $58.33, up $1.87, or 3.31 percent. Jaguar Mining ended the trading session at $5.90, rising $0.44, or 8.06 percent. Aurizon Mines closed at $6.84, jumping $0.21, or 3.17 percent.
Hecla (HL) (ISVLF) (SLW) (GPL) Close Mixed as Silver Jumps Again
Impact Silver (OTC:ISVLF.PK), Silver Wheaton (NYSE:SLW), Hecla Mining (NYSE:HL) and Great Panther (AMEX:GPL) closed mixed Wednesday as silver continues its upward climb gold to break records on almost a daily basis.
After surpassing the $45 level Wednesday, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record. Silver traded between $43.835 and $45.400.
Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
Gold and silver prices continue to surge on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index fell 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of the outlook of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
Great Panther closed Wednesday at $4.00, level with Tuesday's close. Hecla Mining closed at $9.22, gaining $0.21, or 2.33 percent. Silver Wheaton ended the trading day at $41.70, falling $1.17, or 2.73 percent. Impact Silver closed at $2.51, up $0.09, or 3.72 percent.
After surpassing the $45 level Wednesday, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record. Silver traded between $43.835 and $45.400.
Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.
Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.
Gold and silver prices continue to surge on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index fell 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.
The downgrade of the outlook of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.
The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.
Great Panther closed Wednesday at $4.00, level with Tuesday's close. Hecla Mining closed at $9.22, gaining $0.21, or 2.33 percent. Silver Wheaton ended the trading day at $41.70, falling $1.17, or 2.73 percent. Impact Silver closed at $2.51, up $0.09, or 3.72 percent.
Wednesday, April 20, 2011
Gold Breaks $1,500 as Gammon (GRS) (ABX) (NCMGY) (AU) Close Up
After blowing past the $1,500 an ounce mark on Tuesday, gold prices settled just under the important psychological barrier at $1,495.10, as gold miners Gammon Gold (NYSE:GRS), Barrick Gold (NYSE:ABX), Newcrest Mining (OTC:NCMGY.PK) and AngloGold Ashanti (NYSE:AU) closed up on the day.
Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.
Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.
AngloGold Ashanti closed Tuesday at $49.02, gaining $0.52, or 1.07 percent. Newcrest Mining ended the session at $43.35, up $0.20, or 0.46 percent. Barrick Gold closed at $54.23, rising $0.76, or 1.42 percent. Gammon Gold closed the day at $10.47, rising $0.13, or 1.26 percent.
Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.
The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.
Silver prices for May delivery climbed almost a dollar to settle at $43.91.
Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.
Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.
AngloGold Ashanti closed Tuesday at $49.02, gaining $0.52, or 1.07 percent. Newcrest Mining ended the session at $43.35, up $0.20, or 0.46 percent. Barrick Gold closed at $54.23, rising $0.76, or 1.42 percent. Gammon Gold closed the day at $10.47, rising $0.13, or 1.26 percent.
Tuesday, April 19, 2011
Hecla (HL) (SSRI) (ISVLF) (MGN) Close Down Even as Silver Prices Surge Again
Even though silver prices traded at another 31-year high on Monday, that wasn't the direction for most silver companies, as Silver Standard Resources (NASDAQ:SSRI), Hecla Mining (NYSE:HL), Mines Management (AMEX:MGN) and Impact Silver (OTC:ISVLF.PK) all closed down on the day.
Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.
U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.
The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.
Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.
As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.
Impact Silver closed Monday at $2.47, dropping $0.16, or 5.99 percent. Mines Management closed at $2.63, falling $0.08, or 1.60 percent. Hecla Mining ended the day at $8.86, plunging $0.75, or 7.80 percent. Silver Standard Resources closed at $33.49, losing $0.31, or 0.92 percent.
Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.
U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.
The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.
Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.
As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.
Impact Silver closed Monday at $2.47, dropping $0.16, or 5.99 percent. Mines Management closed at $2.63, falling $0.08, or 1.60 percent. Hecla Mining ended the day at $8.86, plunging $0.75, or 7.80 percent. Silver Standard Resources closed at $33.49, losing $0.31, or 0.92 percent.
Alexco (AXU) (AG) (GPL) (PAAS) Close Down Even as Silver Prices Surge Again
Even though silver prices traded at another 31-year high on Monday, that wasn't the direction for most silver companies, as First Majestic (NYSE:AG), Alexco Resource (AMEX:AXU), Pan American Silver (NASDAQ:PAAS) and Great Panther (AMEX:GPL) all closed down on the day.
Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.
U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.
The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.
Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.
As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.
Great Panther closed Monday at $4.01, dropping $0.07, or 1.72 percent. Pan American Silver closed at $37.46, falling $0.61, or 1.60 percent. Alexco Resource ended the day at $9.51, down $0.13, or 1.35 percent. Fortuna closed at $22.73, losing $0.96, or 4.05 percent.
Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.
U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.
The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.
Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.
As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.
Great Panther closed Monday at $4.01, dropping $0.07, or 1.72 percent. Pan American Silver closed at $37.46, falling $0.61, or 1.60 percent. Alexco Resource ended the day at $9.51, down $0.13, or 1.35 percent. Fortuna closed at $22.73, losing $0.96, or 4.05 percent.
Endeavour (EXK) (SLW) (CDE) (FVITF) Close Down Even as Silver Prices Surge Again
Even though silver prices traded at another 31-year high on Monday, that wasn't the direction for most silver companies, as Endeavour Silver (AMEX:EXK), Silver Wheaton (NYSE:SLW), Coeur d'Alene Mines (NYSE:CDE) and Fortuna (OTC:FVITF.PK) all closed down on the day.
Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.
U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.
The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.
Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.
As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.
Endeavour Silver closed Monday at $11.60, dropping $0.38, or 3.17 percent. Silver Wheaton closed at $41.59, falling $1.02, or 2.39 percent. Coeur d'Alene Mines ended the day at $30.63, down $0.67, or 2.14 percent. Fortuna closed at $6.19, losing $0.24, or 3.73 percent.
Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.
U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.
The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.
Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.
As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.
Endeavour Silver closed Monday at $11.60, dropping $0.38, or 3.17 percent. Silver Wheaton closed at $41.59, falling $1.02, or 2.39 percent. Coeur d'Alene Mines ended the day at $30.63, down $0.67, or 2.14 percent. Fortuna closed at $6.19, losing $0.24, or 3.73 percent.
Monday, April 18, 2011
Endeavour (EXK) (AG) (CDE) (PAAS) Trade Mixed as Silver Continues to Climb
Silver again hit new 31-year highs Friday soaring as high as $42.95 an ounce, closing the week up 4.9%. Silver for May delivery rose 90.7 cents to settle at $42.571 an ounce. Silver has risen just under 40 percent so far in 2011. First Majestic (NYSE:AG), Coeur d'Alene Mines (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Endeavour Silver (AMEX:EXK) traded mixed on the day.
Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.
Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.
The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.
Endeavour Silver closed Friday at $11.98, gaining $0.19, or 1.61 percent. Pan American Silver closed at $38.07, up $0.72, or 1.93 percent. Coeur d'Alene Mines closed at $31.30, rising $0.22, or 0.71 percent. First Majestic ended the day at $23.69, falling $0.33, or 1.37 percent.
Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.
Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.
The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.
Endeavour Silver closed Friday at $11.98, gaining $0.19, or 1.61 percent. Pan American Silver closed at $38.07, up $0.72, or 1.93 percent. Coeur d'Alene Mines closed at $31.30, rising $0.22, or 0.71 percent. First Majestic ended the day at $23.69, falling $0.33, or 1.37 percent.
Monday, April 11, 2011
Barrick (ABX), (GFI) (HMY) Jump as Gold, Silver Skyrocket
Gold and silver prices are roaring again after languishing for some time on unwarranted optimism which has resulted in gold miners like
Barrick Gold (NYSE:ABX), Gold Fields (NYSE:GFI) and Harmony Gold Mining (NYSE:HMY) soaring with the precious metals.
On Friday gold prices hit another new record, reaching a high of $1,476 an ounce. Silver prices rose to a 31-year high, closing at 40.60 an ounce, after reaching a high of $40.63 an ounce during the session.
Most of this is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.
Amazingly, many investors are acting as if these are some parenthetical events that have little bearing on the markets and commodity prices.
Gold Fields closed Friday at $18.55, gaining $0.40, or 0.40 percent. Barrick Gold closed at $54.37, rising $0.60, or 1.12 percent. Harmony Gold Mining closed at $15.56, jumping $0.23, or 1.50 percent.
Barrick Gold (NYSE:ABX), Gold Fields (NYSE:GFI) and Harmony Gold Mining (NYSE:HMY) soaring with the precious metals.
On Friday gold prices hit another new record, reaching a high of $1,476 an ounce. Silver prices rose to a 31-year high, closing at 40.60 an ounce, after reaching a high of $40.63 an ounce during the session.
Most of this is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.
Amazingly, many investors are acting as if these are some parenthetical events that have little bearing on the markets and commodity prices.
Gold Fields closed Friday at $18.55, gaining $0.40, or 0.40 percent. Barrick Gold closed at $54.37, rising $0.60, or 1.12 percent. Harmony Gold Mining closed at $15.56, jumping $0.23, or 1.50 percent.
Friday, April 8, 2011
Endeavour (EXK) (AXU) (CDE) (AG) Jump as Silver Passes $40
With silver breaking the psychological $40 an ounce mark today, silver miners like Endeavour Silver (AMEX:EXK), Alexco Resource (AMEX:AXU), Coeur d'Alene Mines (NYSE:CDE) and First Majestic (NYSE:AG) are all trading in the positive.
The $40 an ounce price brings silver to another 31-year high, as each upward move it makes takes it to that level. This week silver prices have increased by 6.3 percent.
Gold has also traded higher, breaking another all-time record, soaring above $1,473 an ounce at one point. Gold has moved up 3.1 percent for the week.
With silver as an investment metal being the impetus behind the price surge at this time, the falling value of the U.S. dollar has been playing a major role in the price movement.
First Majestic Silver was trading at $25.70, gaining $0.43, or 1.70 percent, as of 1:07 PM EDT. Coeur d'Alene Mines was trading at $37.21, rising $1.15, or 3.19 percent. Alexco Resource was at $9.78, rising $0.21, or 2.19 percent. Endeavour Silver was trading at $12.69, up $0.79, or 6.64 percent.
The $40 an ounce price brings silver to another 31-year high, as each upward move it makes takes it to that level. This week silver prices have increased by 6.3 percent.
Gold has also traded higher, breaking another all-time record, soaring above $1,473 an ounce at one point. Gold has moved up 3.1 percent for the week.
With silver as an investment metal being the impetus behind the price surge at this time, the falling value of the U.S. dollar has been playing a major role in the price movement.
First Majestic Silver was trading at $25.70, gaining $0.43, or 1.70 percent, as of 1:07 PM EDT. Coeur d'Alene Mines was trading at $37.21, rising $1.15, or 3.19 percent. Alexco Resource was at $9.78, rising $0.21, or 2.19 percent. Endeavour Silver was trading at $12.69, up $0.79, or 6.64 percent.
Silver Wheaton (SLW) (HL) (PAAS) (SSRI) Soar on $40 Silver
Shares of Silver Wheaton (NYSE:SLW) Hecla Mining (HL), Pan American Silver (NASDAQ:PAAS) and Silver Standard Resources (NASDAQ:SSRI) are soaring today as silver prices broke past the $40 an ounce psychological barrier.
With the surpassing of the $40 an ounce mark, silver has moved to another 31-year high, jumping by about 6.3 percent for the week.
Gold also soared, roaring to as high as $1,473 an ounce, reaching another all-time high. For the week gold has jumped 3.1 percent. Some of this is from the continual collapse of the U.S. dollar as the Federal Reserve and Ben Bernanke refuse to stop the printing presses.
Silver Wheaton was trading at $47.32, gaining $1.81, or 3.98 percent, as of 12:42 PM EDT. Pan American Silver was at $42.75, rising $3.41, or 8.67 percent. Hecla Mining was at $9.93, up $0.38, or 3.98 percent. Silver Standard Resources was trading at $35.60, increasing $1.31, or3.82 percent.
With the surpassing of the $40 an ounce mark, silver has moved to another 31-year high, jumping by about 6.3 percent for the week.
Gold also soared, roaring to as high as $1,473 an ounce, reaching another all-time high. For the week gold has jumped 3.1 percent. Some of this is from the continual collapse of the U.S. dollar as the Federal Reserve and Ben Bernanke refuse to stop the printing presses.
Silver Wheaton was trading at $47.32, gaining $1.81, or 3.98 percent, as of 12:42 PM EDT. Pan American Silver was at $42.75, rising $3.41, or 8.67 percent. Hecla Mining was at $9.93, up $0.38, or 3.98 percent. Silver Standard Resources was trading at $35.60, increasing $1.31, or3.82 percent.
Ivanhoe (IVN) (IAG) (NG) Jump on Record Gold Prices
As the price of gold rockets toward $1,500 an ounce, shares of gold miners are riding the wave as well, with Ivanhoe (NYSE:IVN), Iamgold (NYSE:IAG), Novagold (AMEX:NG) all trading in positive territory today.
The price of gold today has taken off, soaring as high as $1,473 an ounce, reaching another all-time high.
So far this week the price of gold has jumped 3.1 percent, as the U.S. dollar continue to collapse and investors look to tangible assets to invest their money.
Silver also made a significant move today, surpassing the $40 an ounce mark, another 31-year high for the commodity as well. Silver has risen about 6.3 percent this week.
Iamgold was trading at $23.18, gaining $0.24, or 1.05 percent, as of 12:17 AM EDT. Novagold was trading at $13.98, up $0.58, or 4.33 percent. Ivanhoe was trading at $28.28, rising $0.25, or 0.89 percent.
The price of gold today has taken off, soaring as high as $1,473 an ounce, reaching another all-time high.
So far this week the price of gold has jumped 3.1 percent, as the U.S. dollar continue to collapse and investors look to tangible assets to invest their money.
Silver also made a significant move today, surpassing the $40 an ounce mark, another 31-year high for the commodity as well. Silver has risen about 6.3 percent this week.
Iamgold was trading at $23.18, gaining $0.24, or 1.05 percent, as of 12:17 AM EDT. Novagold was trading at $13.98, up $0.58, or 4.33 percent. Ivanhoe was trading at $28.28, rising $0.25, or 0.89 percent.
Wednesday, April 6, 2011
Silver Wheaton (SLW) (SLV) (PAAS) (HL) Jump on Soaring Silver Prices
Silver prices soared to another 31-year high Tuesday, gaining 69 cents, or 1.8 percent, to $39.18 an ounce. Silver companies like Silver Wheaton (NYSE:SLW), Pan American Silver (NASDAQ:PAAS) and Hecla Mining (NYSE:HL) all climbed with the surge in silver prices, as did iShares Silver Trust (NYSEArca:SLV).
Most of the rise in silver prices is attributed at this time to investment rather than industrial demand, and that is expected to continue for some time, with the probability of the lasting throughout the next decade.
In the short term, expectations are silver will probably move past $40 and ounce and pull back afterwards.
That wouldn't be surprising even with strong demand, as silver has been historically more volatile than gold, and will probably continue to perform in that manner, especially when investment demand is the key driver.
iShares Silver Trust closed Tuesday at $38.34, gaining $0.76, or 2.02 percent. Silver Wheaton closed at $45.94, rising $1.84, or 4.17 percent. Pan American Silver ended the session at $40.06, increasing $1.42, or 3.67 percent. Hecla Mining rose to $9.53, up $0.40, or 4.38 percent.
Most of the rise in silver prices is attributed at this time to investment rather than industrial demand, and that is expected to continue for some time, with the probability of the lasting throughout the next decade.
In the short term, expectations are silver will probably move past $40 and ounce and pull back afterwards.
That wouldn't be surprising even with strong demand, as silver has been historically more volatile than gold, and will probably continue to perform in that manner, especially when investment demand is the key driver.
iShares Silver Trust closed Tuesday at $38.34, gaining $0.76, or 2.02 percent. Silver Wheaton closed at $45.94, rising $1.84, or 4.17 percent. Pan American Silver ended the session at $40.06, increasing $1.42, or 3.67 percent. Hecla Mining rose to $9.53, up $0.40, or 4.38 percent.
Friday, March 25, 2011
iShares Silver Trust (SLV) Holdings Hit Record High
iShares Silver Trust (NYSEArca: SLV), which was built to reflect the price of silver minus the costs of running the trust, announced its holdings have risen to a record high of 11,139.52 tons by March 24, up 1.6 percent from 10,960.39 tons on March 18.
Shares of iShares Silver Trust have been soaring over the last 12 months, jumping from $16.32 on March 25, 2010 to closed at $36.12 on Thursday, March 24.
Volume Thursday was almost double the 28,229,000 3-month average, surging to 55,091,197 shares exchanging hands.
Many investors believe silver will rise to as high as $50 an ounce, and possibly much higher.
Shares of iShares Silver Trust have been soaring over the last 12 months, jumping from $16.32 on March 25, 2010 to closed at $36.12 on Thursday, March 24.
Volume Thursday was almost double the 28,229,000 3-month average, surging to 55,091,197 shares exchanging hands.
Many investors believe silver will rise to as high as $50 an ounce, and possibly much higher.
Friday, March 4, 2011
Silver Wheaton (SLW) Declares Dividend, Beats Estimates
Silver Wheaton (NYSE:SLW) continues to capture the attention of investors, as they again beat analysts' estimates, and as mentioned in the past, have declared their first dividend at three cents a share.
Earnings for the October-December quarter came in at $123 million, or 35 cents a share, up from $50.8 million, or 15 cents a share, last year in the same quarter. Analysts on average were looking for earnings of 30 cents a share.
Sales jumped to $149.6 million from $90.5 million in the same quarter of 2009, but missed consensus estimates of $153 million.
For the quarter, attributable silver equivalent production increased 10 percent to 6.3 million ounces, and average silver prices over that time soared by 50 percent.
Holding $428 million of cash at the end of the quarter, the company decided it was time to return some to shareholders via dividends for the first time in its history.
The dividend is payable on March 31 to shareholders of record on March 21.
Silver Wheaton closed Thursday at $43.72, up $0.23, or 0.53 percent.
Earnings for the October-December quarter came in at $123 million, or 35 cents a share, up from $50.8 million, or 15 cents a share, last year in the same quarter. Analysts on average were looking for earnings of 30 cents a share.
Sales jumped to $149.6 million from $90.5 million in the same quarter of 2009, but missed consensus estimates of $153 million.
For the quarter, attributable silver equivalent production increased 10 percent to 6.3 million ounces, and average silver prices over that time soared by 50 percent.
Holding $428 million of cash at the end of the quarter, the company decided it was time to return some to shareholders via dividends for the first time in its history.
The dividend is payable on March 31 to shareholders of record on March 21.
Silver Wheaton closed Thursday at $43.72, up $0.23, or 0.53 percent.
Wednesday, March 2, 2011
iShares Silver Trust (SLV), Silver Wheaton (SLW), Pan American (PAAS), Coeur d`Alene (CDE), Mines Management (MGN) Soar As Silver Prices Continue to Climb
Silver Wheaton Corp. (NYSE:SLW), iShares Silver Trust (NYSE:SLV), Pan American Silver Corp. (Nasdaq:PAAS), Coeur d`Alene Mines Corporation (NYSE:CDE) and Mines Management (AMEX:MGN) all pushed up Tuesday as silver prices rose to 31-year highs.
Silver, which is considered an industrial and investment metal, is used by investors as a secondary place to put their capital - other than gold - as a safe haven.
Silver futures settled on the COMEX March contract at $34.43, increasing $0.61, or 1.8 percent. Silver rose to $34.57 an ounce. So far in 2011 silver prices have risen 11.7 percent.
Silver Wheaton closed Tuesday at $43.58, jumping $1.03, or 2.42 percent. iShares Silver Trust closed at $33.87, up $0.76, or 2.30 percent. Coeur d`Alene Mines closed at $32.86, gaining $1.35, or 4.28 percent. Pan American Silver closed at $39.90, up $0.80, or 2.05 percent. Mines Management closed at $3.93, increasing $0.45, or 12.93 percent.
Silver, which is considered an industrial and investment metal, is used by investors as a secondary place to put their capital - other than gold - as a safe haven.
Silver futures settled on the COMEX March contract at $34.43, increasing $0.61, or 1.8 percent. Silver rose to $34.57 an ounce. So far in 2011 silver prices have risen 11.7 percent.
Silver Wheaton closed Tuesday at $43.58, jumping $1.03, or 2.42 percent. iShares Silver Trust closed at $33.87, up $0.76, or 2.30 percent. Coeur d`Alene Mines closed at $32.86, gaining $1.35, or 4.28 percent. Pan American Silver closed at $39.90, up $0.80, or 2.05 percent. Mines Management closed at $3.93, increasing $0.45, or 12.93 percent.
Tuesday, February 22, 2011
Silver Prices, Silver Wheaton (SLW) and Silver Correction
For those unfamiliar the with silver prices and the silver market, it is far more volatile than gold, and can take some big swings, which can spook the uninitiated, and result in them losing money because of fears coming from those big price swings.
Silver has to be held onto during these times, as historically it's the way it performs.
What is unique to silver price swings recently is it dived by over 13 percent, and under normal conditions it should have bounced back some, and then plummeted even lower; at least by historical standards.
The fact that it didn't happen and surged past the $32 an ounce mark, is unique, and could be a precursor to a huge upswing. If that's the case (and it probably is), Silver Wheaton (NYSE:SLW) will move up in price with it.
Why it's important to note the lack of a secondary drop in price is those waiting for silver to do that will probably find themselves chasing the price, as it appears it has bypassed that and already began to surge upward.
So for those waiting for it to drop, it could mean losing significant opportunity; not only in physical silver, but in companies like Silver
Wheaton or iShares Silver Trust (NYSEArca:SLV).
What all of this means is silver appears to be stronger than it's been in decades, and past swings may not be the behavior of silver prices in the future. Remember, we're referring to the secondary drop, not an initial drop in the price of silver.
Now that the $32 an ounce mark has been breached, we could see silver challenge it's all-time high. Silver Wheaton will take the ride with it, no matter how high it ends up going.
Silver has to be held onto during these times, as historically it's the way it performs.
What is unique to silver price swings recently is it dived by over 13 percent, and under normal conditions it should have bounced back some, and then plummeted even lower; at least by historical standards.
The fact that it didn't happen and surged past the $32 an ounce mark, is unique, and could be a precursor to a huge upswing. If that's the case (and it probably is), Silver Wheaton (NYSE:SLW) will move up in price with it.
Why it's important to note the lack of a secondary drop in price is those waiting for silver to do that will probably find themselves chasing the price, as it appears it has bypassed that and already began to surge upward.
So for those waiting for it to drop, it could mean losing significant opportunity; not only in physical silver, but in companies like Silver
Wheaton or iShares Silver Trust (NYSEArca:SLV).
What all of this means is silver appears to be stronger than it's been in decades, and past swings may not be the behavior of silver prices in the future. Remember, we're referring to the secondary drop, not an initial drop in the price of silver.
Now that the $32 an ounce mark has been breached, we could see silver challenge it's all-time high. Silver Wheaton will take the ride with it, no matter how high it ends up going.
Friday, February 18, 2011
Gold, Silver Prices Today Rise to 30-Year High on Unrest in Middle East
Ongoing unrest in the middle east is causing investors to push up the price of gold and silver today, with silver reaching a 30-year high, and palladium also rising to its highest levels in 10 years.
Physical demand for gold in the middle east has been skyrocketing, increasing 39 percent in the fourth quarter, according to World Gold Council, as locals in the region see the potential for instability for some time ahead.
Gold for immediate delivery climbed $2.85, or 0.2 percent, to $1,386.95 an ounce by 8:50 AM in London. Gold futures for April delivery jumped $2.20, or 0.2 percent, to $1,387.30 an ounce on the Comex in New York.
Silver climbed as much as 0.6 percent to $31.9775 an ounce, the highest since March 7, 1980, and palladium rose 0.5 percent to $848.88 an ounce, the highest level since Feb. 28, 2001.
Physical demand for gold in the middle east has been skyrocketing, increasing 39 percent in the fourth quarter, according to World Gold Council, as locals in the region see the potential for instability for some time ahead.
Gold for immediate delivery climbed $2.85, or 0.2 percent, to $1,386.95 an ounce by 8:50 AM in London. Gold futures for April delivery jumped $2.20, or 0.2 percent, to $1,387.30 an ounce on the Comex in New York.
Silver climbed as much as 0.6 percent to $31.9775 an ounce, the highest since March 7, 1980, and palladium rose 0.5 percent to $848.88 an ounce, the highest level since Feb. 28, 2001.
Wednesday, February 9, 2011
Barrick Gold (NYSE:ABX), Kinross Gold (NYSE:KGC), Newmont Mining (NYSE:NEM), Harmony Gold (NYSE:HMY) All Up as Gold, Silver Rises
Barrick Gold (NYSE:ABX), Kinross Gold (NYSE:KGC), Newmont Mining (NYSE:NEM) and Harmony Gold (NYSE:HMY) all finished positive on Tuesday, as the price of gold and silver rose.
While in a normal market an increase in interest rates from an important country like China would result in the price of gold and silver to fall, that wasn't the case Tuesday, as inflation continues to rise and economic growth remains anemic.
Even with China's increase in interest rates, they continue to operate in a negative interest rate environment, one reason the market shrugged off the event.
Harmony Gold closed Tuesday at $11.24, gaining $0.18, or 1.63 percent. Newmont Mining closed at $58.27, gaining $1.12, or 1.96 percent. Barrick Gold closed at $48.69, up $0.86, or 1.80 percent. Kinross Gold closed at $17.18, gaining $0.36, or 2.14 percent.
While in a normal market an increase in interest rates from an important country like China would result in the price of gold and silver to fall, that wasn't the case Tuesday, as inflation continues to rise and economic growth remains anemic.
Even with China's increase in interest rates, they continue to operate in a negative interest rate environment, one reason the market shrugged off the event.
Harmony Gold closed Tuesday at $11.24, gaining $0.18, or 1.63 percent. Newmont Mining closed at $58.27, gaining $1.12, or 1.96 percent. Barrick Gold closed at $48.69, up $0.86, or 1.80 percent. Kinross Gold closed at $17.18, gaining $0.36, or 2.14 percent.
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