On Jan. 14 on StreetAuthority’s sister site ProfitableTrading.com, I wrote: “Gold and silver prices have taken a dive in the past two and a half years. Silver prices have been cut in half since their 2011 highs, while gold ‘only’ shed about a third of its value since then. Currently, silver is trading around $20 an ounce, and gold is trading at about $1,250 an ounce.”#-ad_banner-# Well, not much has changed in the past two weeks. Prices are slightly lower with silver at $19.70 an ounce and gold at $1,245.80. One company that is shielded from these… Read More
On Jan. 14 on StreetAuthority’s sister site ProfitableTrading.com, I wrote: “Gold and silver prices have taken a dive in the past two and a half years. Silver prices have been cut in half since their 2011 highs, while gold ‘only’ shed about a third of its value since then. Currently, silver is trading around $20 an ounce, and gold is trading at about $1,250 an ounce.”#-ad_banner-# Well, not much has changed in the past two weeks. Prices are slightly lower with silver at $19.70 an ounce and gold at $1,245.80. One company that is shielded from these fluctuations in prices is Silver Wheaton Corp. (NYSE: SLW). Based in Vancouver, British Columbia, the company basically secures long-term purchasing agreements associated with silver and gold around the globe at a fixed price. Currently, it has more than 20 agreements associated with 23 mines. This allows the company to pay dividends on a regular basis without worrying too much about fluctuations in metal prices. As an example, Silver Wheaton agreed to purchase 25% of all the silver produced by Goldcorp (NYSE: GG) at a mine in Mexico at $3.90 per ounce (remember that silver is currently at $19.70 an ounce),… Read More