Silver Stocks on the Upswing as Increased Demand Looks to Help Boost Silver Prices
July 23 2012 - 8:20AM
Marketwired
After a strong start to the year silver stocks have faltered in
recent months as prices for the metal have struggled to gain any
upwards momentum. The Global X Silver Miners ETF (SIL) has fallen
over 15 percent in the last three months, while the iShares Silver
Trust ETF (SLV) 14 percent over the same period. "The slide in
silver prices mirrors the stubbornly sluggish global economy, and
the strength of the U.S. dollar," said Keith Newcomb, portfolio
manager at Full Life Financial LLC. Five Star Equities examines the
outlook for companies in the Silver Industry and provides equity
research on Coeur d'Alene Mines Corp. (NYSE: CDE) and Great Panther
Silver Ltd. (NYSE MKT: GPL).
Access to the full company reports can be found at:
www.FiveStarEquities.com/CDE
www.FiveStarEquities.com/GPL
Silver has recently been benefitting from increased demand
according to Commerzbank. In a recent note the bank stated that
holdings in silver exchange-traded funds, 575.1 million troy
ounces, were at their highest levels since May of last year. Silver
futures on Friday settled at $27.217 a troy ounce. "Investors
clearly view silver's current price level of $27 per troy ounce as
an attractive opportunity to buy, which means higher silver prices
can be expected," the bank said.
Five Star Equities releases regular market updates on the Silver
Industry so investors can stay ahead of the crowd and make the best
investment decisions to maximize their returns. Take a few minutes
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Coeur d'Alene Mines Corporation is the largest U.S.-based
primary silver producer and a growing gold producer. The company
has three new, large precious metals mines generating significantly
higher production, sales and cash flow in continued strong metals
markets. The company recently announced it has invested in
International Northair Mines Ltd. Northair is a mineral exploration
company engaged in the acquisition and development of gold and
silver properties in Mexico.
Great Panther Silver's current activities are focused on the
mining of precious metals from its two wholly-owned operating mines
in Mexico, including the development stage San Ignacio Project. The
company recently reported their Guanajuato plant achieved record
silver and gold recoveries of 91.1% and 92.3% respectively. A small
re-grind mill was commissioned in April 2012 and immediately
yielded the improved recoveries.
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