Silver Wheaton and Coeur d'Alene Mines Poised for Growth in New Year
December 12 2011 - 8:16AM
Marketwired
Silver prices have been volatile in recent months as a slowing
global economy has hurt industrial demand for the metal. On the
upside, due to the unstable economy, HSBC analyst James Steel
argues that investor demand for silver as a safe haven asset could
be on the upswing heading into the New Year. "Coin and bar demand
is a growing component of the silver market," Steel said. "We
believe that demand for these products reflects widespread retail
investor concerns about inflation, economic uncertainty, and fiscal
profligacy, European sovereign-debt risks, and geopolitical
tensions." The Paragon Report examines investing opportunities in
the Silver Industry and provides equity research on Silver Wheaton
Corporation (NYSE: SLW) (TSX: SLW) and Coeur d'Alene Mines
Corporation (NYSE: CDE) (TSX: CDM). Access to the full company
reports can be found at:
www.paragonreport.com/SLW
www.paragonreport.com/CDE
HSBC recently lifted its 2012 and 2013 price targets for silver,
arguing that strong bar and coin investment demand, together with
growing interest in silver exchange-traded funds will prop up the
precious metals market. "Silver prices (in the coming years) will
reflect the interplay of many factors. The single biggest bullish
factor, in our view, will be renewed investor demand," analyst
James Steel said.
James Steel said he expects demand from silver exchange-traded
funds will increase in 2012 if investors seek safe-haven assets.
Also, increased industrial demand should support prices, but the
pace of industrial consumption should moderate from 2011 levels, he
said.
The Paragon Report provide investors with an excellent first
step in their due diligence by providing daily trading ideas, and
consolidating the public information available on them. For more
investment research on the silver industry register with us free at
www.paragonreport.com and get exclusive access to our numerous
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Silver production across the globe continues to be on the
upswing, as producers and streamers argue that the US Deficit and
the European financial crisis will continue to provide a bullish
backdrop for precious metals investments. In Peru, the world's
second-largest producer of silver, for example, silver production
rose 0.84% in October to 305,036 kilograms, compared to the
year-earlier period.
Coeur d'Alene Mines Corporation's CEO Mitchell Krebs was
recently quoted in Reuters stating that the company is on track to
ramp up silver production by 19% this year to 19.5 million.
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