The week in mathA day or a week or a month does not a year make. It is still interesting to observe what happens over one week.
The SLW closed in New York on Friday at US$24.78. The TSX was closed.
At a 1.29 exchange rate we can infer that the closing price on the TSX woud have been $32 had the market been open.
Summary comments about the week (Monday to Friday)
1 Gold rose by about $80 or ~ 6%
2 Silver rose by about $2 or ~ 12%
3 SLW-TSX rose by ~ 18% (assuming Friday being open)
Over time, we can expect that a royalty share price will rise by at least double the value of the underlying commodity (up to a point).
Should gold and silver have a repeat next week then we would expect SLW-TSX to close at ~ C$38 still a bit shy of the magical next big leg up (1.e. $40).
Will gold and silver repeat and rise by a similar amount next week? Frankly I have no idea.
Nobody does.
mat