Silver's Rally Will Look to Continue in 2012 as China Begins Trading Silver Futures
May 21 2012 - 8:20AM
Marketwired
After falling for multiple trading sessions silver prices rallied
sharply Thursday and provided a great boost for silver companies.
The Global X Silver Miners ETF (SIL) jumped 2.62 percent Thursday
-- nearly matching the iShares Silver Trust (SLV) gain of 3.30
percent. Silver's rally will look to continue on the emergence of
Chinese Silver futures and increased fabrication demand. The
Paragon Report examines investing opportunities in the Silver
Industry and provides equity research on Silvercorp Metals Inc.
(NYSE: SVM)(TSX: SVM) and Great Panther Silver Ltd. (NYSE: GPL).
Access to full reports can be found at:
www.ParagonReport.com/SVM
www.ParagonReport.com/GPL
Investors in China will now be able to trade silver futures at
home. The Shanghai Futures Exchange gained approval to begin
trading silver futures on April 26th, according to the China Daily
newspaper. "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."
On another note, 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 percent this year to roughly 900
million ounces.
Paragon Report releases regular market updates on the Silver
Industry so investors can stay ahead of the crowd and make the best
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Silvercorp Metals is engaged in the acquisition, exploration,
development and mining of high-grade silver-related mineral
properties in China and Canada. The company reported record
production of 5.6 million ounces of silver, or 6.06 million ounces
of silver equivalent (including 8,800 ounces of gold), being the
sixth consecutive year of production growth with an increase of 6%
in silver production compared to 5.3 million ounces in fiscal
2011.
Great Panther Silver Limited is a silver mining and exploration
company. The Company's current activities are focused on the mining
of precious metals from its two wholly-owned operating mines in
Mexico. In the first quarter of 2012 silver production increased 1
percent to 359,526 ounces from the fourth quarter of 2011, but
declined 12 percent from the first quarter of 2011.
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