An article on Forbes.com reported that silver futures moved higher this morning as the Euro strengthened against the US dollar, and an employment report showed improvement in the U.S. jobs picture. Silver spot price was up to nearly $17.40 per Troy ounce around noon today. The high this year was $18.44 on January 11th. Today's price was the highest since silver fell to $17.68 on January 21st and continued downward to bottom at $15.14 on February 8th (Kitco London Fix). Greece's plans to rein in its debt gave strength to the Euro and thus weakened the US Dollar. Furthermore, the ADP jobs report stated the U.S. private-sector employers cut 40,000 less jobs in February than in January. To read the entire article:
Gold Rallies As Dollar Dallies
Greenback falls on Greek belt-tightening, provides boost to metal prices, stocks.
By MarketNewsVideo.com
http://www.forbes.com/2010/03/03/gold-barrick-anglogold-markets-equities-silver-marketnewsvideo.html?partner=email
Showing posts with label stock market. Show all posts
Showing posts with label stock market. Show all posts
Wednesday, March 3, 2010
Monday, March 1, 2010
Two Silver Mining Companies Updated -Yahoo Finance
Yahoo Finance: In Play
"Silver Wheaton announced that attributable proven and probable reserves more than doubled in 2009, to include an increase of 431 million ounces of silver. The company announced that attributable proven and probable reserves more than doubled in 2009, including an increase of 431 million ounces of silver for a record of 875 million silver equivalent ounces. Over the same period, attributable measured and indicated resources increased by 72%, including an increase of 141 million ounces of silver to a record 366 million silver equivalent ounces. Attributable inferred resources increased by 4%, including an increase of 12 million ounces of silver and 50,000 ounces of gold, to a record 408 million silver equivalent ounces. Silver Wheaton acquired 25% silver production from the Pascua-Lama project for the life of the mine, as well as 100% of the silver production from the Veladero, Lagunas Norte and Pierina mines until the end of 2013, these mines were responsible for much of the Wheatons's total reserve growth in 2009."
"Silvercorp Metals (SVM) reported results of a new Technical Report updating the resources and reserves at its silver-lead-zinc projects in the Ying Mining District in Henan Province, China. The report is the first to establish Proven and Probable reserves at the district of 63.4 mln ounces of silver. Inclusive of the mineral reserves, the updated in-situ mineral resource estimate at the district is 69.0 mln ounces of silver in the Measured & Indicated categories and an additional 87.7 mln ounces of silver in the Inferred category."
I think a lot of this silver is being bought up and used by industry as fast as they can mine it. Even the US Government did not mint some coin proofs this year for lack of silver reserves. Where do you think all of that silver is going?
"Silver Wheaton announced that attributable proven and probable reserves more than doubled in 2009, to include an increase of 431 million ounces of silver. The company announced that attributable proven and probable reserves more than doubled in 2009, including an increase of 431 million ounces of silver for a record of 875 million silver equivalent ounces. Over the same period, attributable measured and indicated resources increased by 72%, including an increase of 141 million ounces of silver to a record 366 million silver equivalent ounces. Attributable inferred resources increased by 4%, including an increase of 12 million ounces of silver and 50,000 ounces of gold, to a record 408 million silver equivalent ounces. Silver Wheaton acquired 25% silver production from the Pascua-Lama project for the life of the mine, as well as 100% of the silver production from the Veladero, Lagunas Norte and Pierina mines until the end of 2013, these mines were responsible for much of the Wheatons's total reserve growth in 2009."
"Silvercorp Metals (SVM) reported results of a new Technical Report updating the resources and reserves at its silver-lead-zinc projects in the Ying Mining District in Henan Province, China. The report is the first to establish Proven and Probable reserves at the district of 63.4 mln ounces of silver. Inclusive of the mineral reserves, the updated in-situ mineral resource estimate at the district is 69.0 mln ounces of silver in the Measured & Indicated categories and an additional 87.7 mln ounces of silver in the Inferred category."
I think a lot of this silver is being bought up and used by industry as fast as they can mine it. Even the US Government did not mint some coin proofs this year for lack of silver reserves. Where do you think all of that silver is going?
Wednesday, February 3, 2010
Precious Metals Investing for the Common Man
From the Silver Stock Report
By Matthew Vickers, May 3, 2009
I am going to interrupt my series of posts on the different ways to invest in silver to invite you to read an essay written by a man who started investing in silver as a teen. He came into a small amount of money in which to invest. The only reason he gives for choosing silver is that gold was too expensive and he did not fully understand the stock market. He does not mention it, but I doubt that inflation, dollar devaluation, or any of the other reasons we choose silver over paper played a role. Remember he was a teen.
One sentence sticks in my mind, and I wish I had known this when I was a teen because a lot of pocket change in circulation was still 90% silver. He states “Right now, even a kid with a weekly allowance can invest in silver.” Read the article here.
By Matthew Vickers, May 3, 2009
I am going to interrupt my series of posts on the different ways to invest in silver to invite you to read an essay written by a man who started investing in silver as a teen. He came into a small amount of money in which to invest. The only reason he gives for choosing silver is that gold was too expensive and he did not fully understand the stock market. He does not mention it, but I doubt that inflation, dollar devaluation, or any of the other reasons we choose silver over paper played a role. Remember he was a teen.
One sentence sticks in my mind, and I wish I had known this when I was a teen because a lot of pocket change in circulation was still 90% silver. He states “Right now, even a kid with a weekly allowance can invest in silver.” Read the article here.
Wednesday, December 23, 2009
Gold Price Pounded by Dollar
Publish on TheStreet.com by Alix Steel
December 23, 2010 8:55am EST
The US dollar index hit a 3.5 month high on Tuesday. This pushed Gold prices under $1.100/oz. Currently the US dollar is losing some ground, falling .25% to $78.11, while Gold was flat at $1,087/oz, but volatility is expected to continue into 2010 on light volume and more long selling. James Moore, analyst at thebulliondesk.com was quoted as stating "In the run-up to year end, we expect Gold to see further pockets of long liquidation, potentially pulling back to the $1,050 area", To read the entire article go here. Check out TheStreet for the latest stock market news and finacial investment headlines.
December 23, 2010 8:55am EST
The US dollar index hit a 3.5 month high on Tuesday. This pushed Gold prices under $1.100/oz. Currently the US dollar is losing some ground, falling .25% to $78.11, while Gold was flat at $1,087/oz, but volatility is expected to continue into 2010 on light volume and more long selling. James Moore, analyst at thebulliondesk.com was quoted as stating "In the run-up to year end, we expect Gold to see further pockets of long liquidation, potentially pulling back to the $1,050 area", To read the entire article go here. Check out TheStreet for the latest stock market news and finacial investment headlines.
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