Welcome To The Golden Minerals HUB On AGORACOM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: Cannacord comment on silver this morning
Silver (COMEX : US$20.82), Net Change: 0.05, % Change: 0.02%
The Rise of the Silver Surfer.
Not just gold, but silver continues to break out. Silver futures rose to the highest closing pricesince 1980. Last week, old-timers were crawling out of the woodwork to recount their memories of when the Hunt brothers’attempt to corner the silver market in 1980. Gold is widely viewed as a currency, is relied on to act as a hedge against inflation,and benefits from a ‘flight to safety’ mentality during times of economic uncertainty. Silver is unique in that it lives a dual life:one as a precious metal, a store of value, and the other as an industrial metal tied to global economic growth. Silver is widelyused in industrial applications (electronics), accounting for approximately 50% of silver demand (in addition, jewellery accountsfor 18% and photography for 12% of silver demand), compared to gold, for which industrial applications account for only about11% of demand. Recently, silver has been getting a boost from both of its split personalities. The strengthening gold price hasdrawn investors to silver for its qualities as a precious metal. A better than expected economic growth out of India and Chinahas also drawn investors to the white metal on the expectation of increased demand for its industrial applications. Year-to-date,the iShares Silver ETF (SLV) is up almost 23%; meantime, Pan American Silver (PAA) is up nearly 20% and SilverWheaton (SLW) is up 62%. For the most part, junior silver producers and developers have also outperformed the silver ETFyear to date. Silver is still a long, long way from its all-time high of $48.70.
2 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply