donderdag 30 oktober 2014

First Majestic Silver Decreases Silver Premium For First Time In A Year

First Majestic Silver, after one year of waiting, has finally thrown in the towel and dropped their silver prices from $23/ounce to $20/ounce, a 13% drop. I wonder if this has anything to do with the end of QE announcement last night...

This is also not consistent with what they said a few weeks ago, namely betting on a higher silver price in the fourth quarter, thus retaining a large amount of their silver inventory stock for the sake of selling it at a higher price in the future.

In fact, a week ago the CEO encouraged other silver miners to halt their silver sales, how will lower premiums accomplish that goal?

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