The following is a press release...
NEW YORK, NY--(Marketwire - May 21, 2012) - After falling for multiple trading sessions silver prices rallied sharply Thursday and provided a great boost for silver companies. The Global X Silver Miners ETF (SIL) jumped 2.62 percent Thursday -- nearly matching the iShares Silver Trust (SLV) gain of 3.30 percent. Silver's rally will look to continue on the emergence of Chinese Silver futures and increased fabrication demand. The Paragon Report examines investing opportunities in the Silver Industry and provides equity research on Silver Wheaton Corp. (NYSE: SLW) and Pan American Silver Corp. (NASDAQ: PAAS).
Access to full reports can be found at:
Investors in China will now be able to trade silver futures at home. The Shanghai Futures Exchange gained approval to begin trading silver futures on April 26th, according to the China Daily newspaper.
"There has been an absence of a means of trading in silver in China," Wang Ruilei, an analyst with precious metal trader CGS Co Ltd, told China Daily. "The market will be bigger and more liquid with the advent of these futures contracts."
On another note, Phillip Klapwijk of GMFS expects fabrication demand for silver, which makes up 80 percent of total demand for the metal, to rise as much as 5 percent this year to roughly 900 million ounces.