Silver Miners Continue to Rise as Global Economic Uncertainty Pushes Silver Prices to a Two-Year High

NEW YORK, NY / ACCESSWIRE / July 6, 2016 / Silver miners were amongst the largest gainers in the markets Tuesday as prices for the precious metal surged to a 2 year high. Investors have continued to sell off their riskier assets and have poured the money into safe havens, such as bonds and precious metals, following Britain’s exit from the European Union. Data from FactSet showed Silver for September delivery touched a high of $21.23 an ounce on Monday. On Tuesday, the iShares Silver Trust ETF (NYSE ARCA: SLV) gained 1.28 percent to close at $18.98, up 43.9 percent year-to-date. Register with us now for your free membership and gain access to our daily Silver reports at: www.rdinvesting.com.

“All of us are slightly open mouthed at the strong rises in both gold and in particular silver, of late,” said Julian Phillips, founder of and contributor to GoldForecaster.com, in a recent note, according to MarketWatch. “The prime reasons for the rises are that both their technical pictures have moved out of the consolidation area into ‘new territory’ [and] silver’s breakout is clearer than gold’s at this moment.”

“Over the coming weeks and months the ramifications of ‘Brexit’ on the global economy will give us a measure of just how much of a Teutonic shift in the world economy it was,” he said. “The most visible impact has been a lowering of the expectations for interest rates and the heightened economic risks to the world.”

Endeavour Silver Corp. (NYSE: EXK)

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Endeavour Silver’s shares gained 5.41 percent to close at $4.29 a share Tuesday. The stock traded between $4.00 and $4.32 on volume of 5.41 million shares traded. The stock appears to be facing some resistance at $5.10 with some support at $4.21 and $3.94.The company recently announced that its surface exploration program has outlined several prospective new silver-gold veins on the Terronera property in Jalisco State, Mexico. Shares of Endeavour Silver have gained approximately 202.0 percent year-to-date and are up roughly 24.0 percent in the past month.

Fortuna Silver Mines Inc. (NYSE: FSM)

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at www.rdinvesting.com/company/FSM

Fortuna Silver Mines’ shares gained 1.84 percent to close at $7.75 a share Tuesday. The stock traded between $7.50 and $7.81 on volume of 2.19 million shares traded. The stock appears to have some support at the $7.50, $7.21 and $6.66 levels. On June 7, the company announced the acquisition of Goldrock Mines Corp. Goldrock’s principal asset is the 100% owned Lindero Project, which is an open pit, heap leach gold project located in Salta Province, Argentina. Shares of Fortuna Silver Mines have gained approximately 244.0 percent year-to-date and are up roughly 24.6 percent in the past month.

Great Panther Silver Ltd. (NYSE MKT: GPL)

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Great Panther Silver’s
shares gained 8.72 percent to close at $1.87 a share Tuesday. The stock traded between $1.75 and $1.89 on volume of 3.67 million shares traded. The stock appears to be facing some resistance at $1.86 and $2.22 with some support at $1.79 and $1.71. On May 11th, the company announced that it had ended an option agreement for a 100 percent interest in the Coricancha Mine in Peru, but is still evaluating the project. Great Panther Silver reduced all-in sustaining costs per payable silver ounce (AISC) by 36% to $9.25 in the first quarter of 2016. Shares of Great Panther Silver have gained approximately 273.0 percent year-to-date and are up roughly 18.4 percent in the past month.

Silver Wheaton Corp. (NYSE: SLW)

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Silver Wheaton’s shares declined 0.52 percent to close at $24.65 a share Tuesday. The stock traded between $24.17 and $25.23 on volume of 10.81 million shares traded. The stock appears to have some support at the $23.94, $22.60 and $21.80 levels. Analysts at Credit Suisse have recently upgraded its rating on Silver Wheaton to “outperform” from “neutral”. The company reported attributable silver equivalent production of 12.7 million ounces (7.6 million ounces of silver and 64,900 ounces of gold) in the first quarter of 2016, an increase of 24.0 percent when compared the first quarter of 2015. Shares of Silver Wheaton have gained approximately 98.5 percent year-to-date and are up roughly 20.9 percent in the past month.

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