Risk Aversion Continues to Weigh on Silver
Silver spent much of the week under pressure primarily from EU concerns, but managed gains on Thursday.
Silver spent much of the week under pressure primarily from EU concerns, but managed gains on Thursday.
Paragon Report released research on Silver Wheaton Corp. (NYSE:SLW), Pan American Silver (NASDAQ:PAAS) and the outlook for the silver industry.
Silver prices dropped lower into the $20s this week as the greenback soared.
Mineweb reported that the global supply of silver could reach 1 billion ounces this year as producers ramp up output.
Globe and Mail reported that silver's price volatility is not a new pattern for the precious metal's value.
As silver continues to fall, investors continue to shy away.
Mining Weekly reported that higher production and silver prices helped First Majestic Silver (TSX:FR) to a 10% boost in quarterly profit.
Mineweb reported that Alexco Resource Corp.'s (TSX:AXR) first quarter net income fell due to lower silver prices.
Bloomberg reported that market analysts are bullish and expecting a recovery in the silver market.
Reuters reported that Endeavour Silver (NYSE:EXK) said increased output and higher silver prices helped the company to a 35% quarterly profit increase.
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