Silver Prices Look to FOMC Meeting For Catalyst. Silver Stocks to Watch

Gold and silverSilver prices are giving up early gains as investors wait for the FOMC statement. Consensus expectations are not for an announcement of renewed QE but for leaving the door open for further stimulus. The lackluster housing data and the disappointing jobs numbers should give the FOMC political cover to be a bit more dovish in their statement.

Currently silver prices have surrendered nearly all the gains on the day. Spot prices are up 2 cents to $30.88 per ounce.

Silver Stocks

Silver Wheaton Corp. (NYSE:SLW) is down 0.07% today at $28.31. SLW has traded 1.1 million shares so far today and trades 5.2 million shares a day on average. SLW shares have dropped nearly $2 a share in the past week. The company has a market cap of 10.09 billion.

ProShares Ultra Silver (NYSEARCA:AGQ) is up 0.81% today at $49.74. AGQ has traded 349 thousand shares so far today and trades 2.3 million shares a day on average. AGQ shares have dropped more than $3 a share in the past few days.

iShares Silver Trust (NYSEARCA:SLV) is up 0.37% this morning at $30.08. AGQ has traded 2.8 million shares this morning and trades 18.9 million shares a day on average. AGQ shares have fallen $1 since last Thursday.

Hecla Mining Co. (NYSE:HL) is up 0.75% today at $4.01. HL has traded 976 thousand shares so far today and trades 5.9 million shares a day on average. HL shares have dropped $0.20 a share since last Thursday. The company has a market cap of 1.15 billion.

Pan American Silver Corp. (NASDAQ:PAAS) is down 0.76% in early trading at $18.37. PAAS has traded nearly 400 thousand shares this morning and trades 1.9 million shares a day on average. PAAS shares have dropped more than $1 a share in the past week. The company has a market cap of 1.92 billion.

Endeavour Silver Corp. (NYSE:EXK) is down 0.36% today at $8.24. EXK has traded 328 thousand shares this morning and trades 1.3 million shares a day on average. EXK shares have dropped $0.60 a share since last Thursday. The company has a market cap of 721.49 million.

Great Panther Silver Ltd. (AMEX:GPL) is up 5% today at $1.9732. GPL has traded 290 thousand shares this morning and trades 846 thousand shares a day on average. GPL shares are bouncing back today after the stock fell $0.20 over the past few days. The company has a market cap of 270.69 million.

Silvercorp Metals Inc. (NYSE:SVM) is up 0.81% today at $6.3511. SVM has traded 339 thousand shares so far today and trades 1.6 million shares a day on average. SVM shares are trying to bounce back today after falling over the past week. The company has a market cap of 1.08 billion.

Silver Standard Resources Inc. (NASDAQ:SSRI) is down 0.23% today at $13.21. SSRI has traded 165 thousand shares so far today and averages 965 thousand shares. SSRI shares have dropped about $0.80 a share in the past few days. The company has a market cap of 1.06 billion.

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About Rachel Brook

Rachel Brook is an up and coming financial writer focusing on commodity price inflation and how the overall market reacts to the price swings. She also covers emerging markets in Africa and SE Asia.

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