Silver Prices Flat as Investors Wait on Fed Minutes, Silver Stocks

Gold and silverSilver prices are trading slightly higher this morning as commodities investors take a wait and see approach ahead of the Fed’s minutes. The Fed’s minutes are expected to be released this afternoon around 2pm EST. Analysts are expecting the Fed minutes to give a clearer picture on what the Fed’s action is going to be in the near future for the economy.

Silver futures for April delivery are currently trading 1.54% higher this morning at $32.97.

Silver Stocks

Silver Wheaton Corp. (NYSE:SLW) is down 0.23% this morning at $33.60. SLW has traded 1.1 million shares so far today and trades 5 million shares a day on average. Over the past week, SLW shares have traded as high $34.16 and as low as $31.71. The company has a market cap of 11.89 billion.

iShares Silver Trust (NYSEARCA:SLV) is down 0.09% this morning at $32.02. SLV has traded 3.7 million shares so far today and trades 19.8 million shares a day on average. SLV shares are up $1 a share since last Thursday.

Silver Standard Resources Inc (NASDAQ:SSRI) is down 1.56% today at $15.12. SSRI has traded 185 thousand shares in early trading and trades just over a million shares a day on average. The company has a market cap of 1.22 billion.

Great Panther Silver Ltd. (AMEX:GPL) is down 1.71% in early trading at $2.30. GPL has traded 204 thousand shares so far today and trades 889 thousand shares a day on average. GPL shares have jumped as much as $0.20 in the week. The company has a market cap of 316.31 million.

Paramount Gold and Silver Corp. (AMEX:PZG) is up 7.87% today at $2.53. PZG is up on heavy volume this morning with 2.1 million shares traded already, well above its daily average of 1 million shares. Paramount reported this morning more high grade assay results from its Don Ese North deposit. The company has a market cap of 349.06 million.

Silvercorp Metals Inc. (NYSE:SVM) is down 0.85% this morning at $6.96. SVM has traded 235 thousand shares this morning and trades 1.6 million shares a day on average. SVM shares climbed more than $0.40 a share last week and yesterday, before dipping slightly today. The company has a market cap of 1.19 billion.

First Majestic Silver Corp. (NYSE:AG) is down 2.11% today at $16.67. AG has traded 208 thousand shares so far today and trades 771 thousand shares a day on average. First Majestic announced they acquired Silvermex Resources this morning. The company has a market cap of 1.77 billion.

ProShares Ultra Silver (NYSEARCA:AGQ) is up 0.08% this morning at $56.82. AGQ has traded 775 thousand shares this morning and trades 2.4 million shares a day on average. AGQ has jumped nearly $4 a share in the past week.

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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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