The Closing Print live trading and financial blog during market hours.

Silver was seen out performing gold again on Thursday, trading more than 4.5% higher as some Reddit-inspired traders attempt to squeeze the spot price higher through ETFs and silver stocks.  

Aberdeen Standard Physical Silver Shares ETF (SIVR)

The investment seeks to track the price of physical silver bullion (Silver ETPs). The shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in silver. An investment in physical silver requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal. Although the shares are not the exact equivalent of an investment in silver, they provide investors with an alternative that allows a level of participation in the silver market through the securities market.

Aberdeen’s Silver ETF trading higher pre-market (+2.90%) having traded higher on Thursday (+5.49%), setting up a potential breakout from the current consolidation. 

  • Annual silver consumption is ~1.0B ounces
  • 80% sourced from mining, 20% sourced from recycling
  • Over past 10 years, the silver industry has been in a 500M ounce physical deficit
  • Silver is one of the world’s most reflective and best conductors of electricity
  • 55% of silver found in – electronics, medicine, solar, water purification, window manufacturing
  • Demand by sector: 55% industrial fabrication, 20% jewelry, 19% coins & bars, 6% silverware
  • Scrap recycling is at a 25 year low!


Freeport McMoran Inc (FCX)

Freeport-McMoran Inc. (FCX) engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. – Yahoo Finance

The stock is flat this morning, after bouncing off the 50d moving average support zone on Tuesday and Wednesday. RS line is rising (94).

A three candle, morning star pattern completes the picture. RSI is rising suggesting FCX might fllow-through over the short-term. We have a position(avg.26.40).

 The 21d moving average is resistance overhead at (28.44). We intend to add to our swing position if and when the stock closes above this key level. 


First Majestic Silver (AG)

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver production in Mexico. The company holds 100% interests in San Dimas Silver/Gold Mine


First Majestic Silver (AG) is higher pre-market (+12.44%) showing signs traders have taken the cue and started buying shares.

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