China Receives Approval to Start Trading Silver Futures -- Silver Companies Look to Benefit
May 03 2012 - 8:20AM
Marketwired
Silver prices rebounded after Ben Bernanke commented that the
Federal Reserve was prepared to take action if the economy required
additional support. Silver spot prices ended last week at $31.27
after dipping below $30. Silver's rally will look to continue in
2012 as China has recently received approval to begin trading
silver futures. Five Star Equities examines the outlook for
companies in the Silver Industry and provides equity research on
Silver Wheaton Corp. (NYSE: SLW) (TSX: SLW) and Coeur d'Alene Mines
Corporation (NYSE: CDE).
Access to the full company reports can be found at:
www.FiveStarEquities.com/SLW www.FiveStarEquities.com/CDE
The China Daily newspaper on April 26th reported that China had
received approval to start trading silver futures on the Shanghai
Futures Exchange. "There has been an absence of a means of trading
in silver in China," Wang Ruilei, an analyst with precious metal
trader CGS Co Ltd, told China Daily. "The market will be bigger and
more liquid with the advent of these futures contracts." Allowing
Chinese investors access to the silver market will provide an
influx of investment dollars into the commodity, and make it more
difficult for American speculators to manipulate the markets in
their favor. Also Phillip Klapwijk of GMFS expects fabrication
demand for silver, which makes up 80 percent of total demand for
the metal, to rise as much as 5% this year.
Five Star Equities releases regular market updates on the Silver
Industry so investors can stay ahead of the crowd and make the best
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Established in 2004, Silver Wheaton has quickly positioned
itself as the largest silver streaming company in the world. The
company has entered into a number of agreements where, in exchange
for an upfront payment, it has the right to purchase, at a low
fixed cost, all or a portion of the silver production from several
high-quality mines located in politically stable regions around the
globe. The company announced that they will release 2012 first
quarter results on Monday, May 14, 2012, before market open.
Coeur d'Alene Mines Corporation is the largest U.S.-based
primary silver producer and a growing gold producer. The Company
built and commenced production from three wholly owned, long-lived
mines between 2008 and 2010: the San Bartolome silver mine in
Bolivia, the Palmarejo silver-gold mine in Mexico and the
Kensington gold mine in Alaska. The company recently reported that
its Kensington gold mine is resuming full production ahead of
schedule.
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