Silver Prices Outperform Gold in the Third Quarter Gaining as Much as 25 Percent
October 18 2012 - 8:20AM
Marketwired
Silver prices had an excellent third quarter, gaining as much as 25
percent, as stimulus measures announced from the European and the
Federal Reserve have helped boost prices. The iShares Silver Trust
ETF (SLV) has gained over 20 percent in the last three months. 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 Silver Wheaton Corp. (NYSE: SLW) (TSX: SLW).
Access to the full company reports can be found at:
www.FiveStarEquities.com/CDE
www.FiveStarEquities.com/SLW
Bloomberg has recently reported that hedge funds are more
bullish on silver than they have been in seven months. Data from
the U.S. Commodity Futures Trading Commission have shown that since
the end of June bets on rising prices have increased 10-fold.
Investor holdings of silver through exchange-traded products during
the third quarter totaled 717.2 metric tons, valued at $797
million, the most in a year according to data collected from
Bloomberg.
"The recent announcements on the part of central banks really
sparked the rally," said Peter Sorrentino of Huntington Asset
Advisors. "Silver has now become a two-way play, getting bids both
on industrial demand as well as a monetary hedge."
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Industry so investors can stay ahead of the crowd and make the best
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Coeur d'Alene Mines 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 expects to achieve the high-end of its production
guidance for 2012 of 18.5 - 20.0 million ounces of silver and
210,000 - 230,000 ounces of gold.
Silver Wheaton currently has agreements to purchase silver from
17 operating mines and four development stage projects. By 2016,
annual attributable production is anticipated to increase
significantly to approximately 48 million silver equivalent ounces,
including 100,000 ounces of gold. The company is scheduled to
release third quarter 2012 financial results on November 5,
2012.
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