Silver prices have fallen by approximately 27 percent in 2013, making it the second highest decline amongst the 24 commodities in Standard & Poor’s GSCI gauge. Goldman Sachs Group Inc. recently forecasted prices to drop to $21.70 in three months and reach $19.60 in a year. "There’s less safe-haven" demand, Ole Hansen, the head of commodity strategy at Saxo Bank A/S in Copenhagen, said by telephone according to a recent Bloomberg article. "We’re seeing industrial metalsextending their down move. When you have both gold weakness and copper weakness at the same time it seems to have a bit of double whammy on silver."
First Majestic Silver Corp. (NYSE: AG) shares traded in the range of $12.42 to $12.95 Friday before settling to close at $12.82, an increase of 1.10 percent. The stock appears to be facing some resistance at the $13.28 and $13.82 levels with some support at $12.66. Shares of First Majestic Silver have fallen approximately 36.0 percent in 2013.
More information on First Majestic Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AG
Coeur Mining Inc. (NYSE: CDE) shares traded in the range of $12.97 to $13.35 Friday before settling to close at $13.23, an increase of 1.15 percent. The stock appears to be facing some resistance at the $13.30 and $13.59 levels with some support at $13.00. Shares of Coeur Mining have fallen approximately 46.0 percent in 2013.
More information on Coeur Mining and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CDE
Endeavour Silver Corp. (NYSE: EXK)(TSX: EDR) shares traded in the range of $4.09 to $4.33 Friday before settling to close at $4.23, an increase of 0.24 percent. The stock appears to be facing some resistance at the $4.47 and $4.86 levels with some support at $3.81. Shares of Endeavour Silver have fallen approximately 46.0 percent in 2013.
More information on Endeavour Silver and access to the free equity report can be found at:
www.WallStreetFundamentals.com/EXK
Silvercorp Metals Inc. (NYSE: SVM)(TSX: SVM) shares traded in the range of $3.16 to $3.36 Friday before settling to close at $3.30, a decrease of 2.37 percent. The stock appears to be facing some resistance at the $3.58 and $3.83 levels with some support at $3.29. Shares of Silvercorp Metals have fallen approximately 35.0 percent in 2013.
More information on Silvercorp Metals and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SVM
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