The price of silver closed at over $30 per troy ounce on Friday up from $16.822 at the beginning of 2010. From a recent Wall Street Journal story on silver:
Among the four major precious metals—the others being gold, platinum and palladium—silver is up 74% this year, on track to be the second-best performing commodity after palladium, which is up 86%. Gold, by contrast, is up 26% and copper just under 28%.
Prices are rising despite oversupply and a lackluster recovery in industrial demand. Many analysts expected those factors would keep a lid on prices in 2010. What they didn’t expect was an overwhelming flow of money into the market from investors eager to ride a commodities rally.
Silver closed at an all-time high in January 1980 at $48.70 an ounce, or $129.32 adjusted for inflation.
The Top Silver Producers in 2009
Source: The Wall Street Journal
(Click to enlarge)
The top 20 silver producing companies in 2009 are listed below:
|S.No.||Company||Ticker||Country||Output in 2009|
|2||KGHM Polska Miedz||KGHMF.PK||Poland||38.7|
|4||Pan American Silver||PAAS||Canada||23.0|
|5||Cia. Minera Volcan||VCANK.PK||Peru||21.2|
|7||Coeur dAlene Mines Corp.||CDE||USA||17.7|
|11||Cia. de Minas Buenaventura||BVN||Peru||16.0|
|12||Kinross Gold Corp.||KGC||Canada||14.0|
|13||Southern Copper Corp.||SCCO||USA||13.2|
|18||Eti Gumus, A.S||Turkey||11.2|
Source: The Silver Institute
ETF: iShares Silver Trust (SLV)
Disclosure: No positions