Global Silver Investment Through Exchange-Traded Products at Record Highs
January 23 2013 - 8:20AM
Marketwired
Silver's recent rally can be attributed to a strong surge in
investment demand. Last week, the iShares Silver Trust ETF (SLV)
reported holdings increased by 572-metric tons, the largest
increase in five years, to 10,735 tons. Five Star Equities examines
the outlook for companies in the Silver Industry and provides
equity research on Coeur d'Alene Mines Corporation (NYSE: CDE) and
Hecla Mining Company (NYSE: HL).
Access to the full company reports can be found at:
www.FiveStarEquities.com/CDE www.FiveStarEquities.com/HL
Data collected from Bloomberg and Barclays show that investment
through silver-backed exchange-traded products is at a record of
19,114 tons globally, which is approximately nine months of mine
output. Additionally, the U.S. mint has reported that they have
temporarily sold out of 2013 American Eagle Silver coins. So far in
January silver sales have totaled 6,007,000 troy ounces, more than
double 2012's average monthly sales of 2,811,875, according to data
from the Mint.
"Some investors see poor man's gold as a cheaper alternative to
the yellow metal and are allocating to it," said Mark O'Byrne,
executive director of GoldCore Ltd. "Allocations to silver remain
very small which suggests that the holdings could go higher
resulting in higher silver prices again in 2013."
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
to register with us free at www.FiveStarEquities.com and get
exclusive access to our numerous stock reports and industry
newsletters.
Coeur d'Alene Mines is a large primary silver producer with
growing gold production with assets in the United States, Mexico,
Bolivia, Argentina and Australia. The company reported production
of 18.0 million ounces of silver and an all-time high of 226,491
ounces of gold for the full year 2012.
Hecla Mining Company has distinguished itself as the largest and
one of the lowest cash cost silver producers in the U.S. The
company has two operating mines and exploration properties in four
world-class silver mining districts in the U.S. and Mexico. The
company anticipates that its Lucky Friday mine will be in
production in the first quarter of 2013 and hit production of over
2 million ounces by year end.
Five Star Equities provides Market Research focused on equities
that offer growth opportunities, value, and strong potential
return. We strive to provide the most up-to-date market activities.
We constantly create research reports and newsletters for our
members. Five Star Equities has not been compensated by any of the
above-mentioned companies. We act as an independent research portal
and are aware that all investment entails inherent risks. Please
view the full disclaimer at:
www.FiveStarEquities.com/disclaimer
Add to Digg Bookmark with del.icio.us Add to Newsvine
Coeur Mining (NYSE:CDE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Coeur Mining (NYSE:CDE)
Historical Stock Chart
From Jul 2023 to Jul 2024