NEW YORK, NY--(Marketwire - Jan 23, 2013) - Silver's recent rally can be attributed to a strong surge in investment demand. Last week, the iShares Silver Trust ETF (SLV) reported holdings increased by 572-metric tons, the largest increase in five years, to 10,735 tons. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Pan American Silver Corp. (
Data collected from Bloomberg and Barclays show that investment through silver-backed exchange-traded products is at a record of 19,114 tons globally, which is approximately nine months of mine output. Additionally, the U.S. mint has reported that they have temporarily sold out of 2013 American Eagle Silver coins. So far in January silver sales have totaled 6,007,000 troy ounces, more than double 2012's average monthly sales of 2,811,875, according to data from the Mint.
"Some investors see poor man's gold as a cheaper alternative to the yellow metal and are allocating to it," said Mark O'Byrne, executive director of GoldCore Ltd. "Allocations to silver remain very small which suggests that the holdings could go higher resulting in higher silver prices again in 2013."
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Pan American Silver has seven operating mines in Mexico, Peru, Argentina and Bolivia, including the recently acquired Dolores gold/silver mine in Chihuahua, Mexico. The company recently reported that it produced a record 6.9 million ounces of silver in the fourth quarter of 2012, a year-over-year increase of 30 percent.
Silver Wheaton is the largest silver streaming company in the world. By 2016, annual attributable production is anticipated to increase significantly to approximately 48 million silver equivalent ounces, including 100,000 ounces of gold. The company reported record attributable silver equivalent production of 7.7 million ounces in the fourth quarter, a year-over-year increase of 26 percent.
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