Gold Prices may be stabilizing on the back of an underwhelming jobs reports, but silver prices are flat on global demand concerns. News out of India has expectations of a 27% drop in demand for the year. This is even with the government keeping the import duty unchanged in the country. The main reason is the volatility in prices has jewelers pulling back.
Silver bulls may have to wait for a bigger catalyst to move higher or just be reigned t the fact the metal is highly volatile and you have to be nimble.
Silver prices are currently up 12 cents to 31.83.
Silver Stocks
iShares Silver Trust (NYSEARCA:SLV) is down 0.06% today at $30.71. SLV has traded 2.3 million shares this morning and trades 19.8 million shares a day on average. SLV shares have been trading flat the past two days after falling $2 last week.
ProShares Ultra Silver (NYSEARCA:AGQ) is down 0.37% in early trading at $51.92. AGQ has traded 312 thousand shares so far today and trades 2.4 million shares a day on average. AGQ shares dropped nearly $8 a share last week before recovering some last Thursday.
Hecla Mining Co. (NYSE:HL) is down 0.47% today at $4.27. HL has traded 1.7 million shares in early trading today and trades 7 million shares a day on average. HL shares have fallen $0.60 a share since last Monday. The company has a market cap of 1.21 billion.
Silver Wheaton Corp. (NYSE:SLW) is up 0.61% this morning at $31.38. SLW has traded just over a million shares so far today and trades 5.1 million shares a day on average. SLW shares fell about $3 a share last week. The company has a market cap of 11.11 billion.
Silvercorp Metals Inc. (NYSE:SVM) is up 1.57% today at $6.4295. SVM has traded close to 300 thousand shares this morning and averages 1.6 million shares daily. SVM shares fell close to $0.80 a share last week. The company has a market cap of 1.10 billion.
Endeavour Silver Corp. (NYSE:EXK) is up 0.44% today at $9.08. EXK has traded 279 thousand shares so far today and trades 1.3 million shares a day on average. EXK shares fell about $0.80 a share over the past five days. The company has a market cap of 798.73 million.
Pan American Silver Corp. (NASDAQ:PAAS) is up 0.84% this morning at $20.48. PAAS has traded 281 thousand shares this morning and trades 1.9 million shares daily. PAAS shares dropped $2 a share since last Monday. The company has a market cap of 2.15 billion.
Coeur d’Alene Mines Corporation (NYSE:CDE) is up 0.90% this morning at $22.35. CDE has traded 238 thousand shares so far today and trades 1.5 million shares a day on average. CDE shares fell $3 a share last week. The company has a market cap of 2.01 billion.
Silver Standard Resources Inc. (NASDAQ:SSRI) is up 1.45% this morning at $14.04. SSRI has traded 172 thousand shares so far today and trades 1.03 million shares a day on average. SSRI shares fell $1.50 a share last week. The company has a market cap of 1.14 billion.
Great Panther Silver Ltd. (AMEX:GPL) is down 0.95% today at $2.08. GPL has traded 145 thousand shares so far today and trades 877 thousand shares a day on average. On Thursday, Great Panther appointed Rhonda Bennetto as VP Corporate Communications. The company has a market cap of 287.18 million.
First Majestic Silver Corp. (NYSE:AG) is up 1.40% today at $15.94. AG has traded 168 thousand shares so far today and trades 772 thousand shares a day on average. AG shares fell more than $1 a share last week. The company has a market cap of 1.68 billion.
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