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Shanghai Futures Exchange Receives Approval to Begin Trading Silver Futures

Thursday, May 3, 2012 8:20 AM


NEW YORK, NY -- (Marketwire) -- 05/03/12 -- Silver prices rebounded after Ben Bernanke commented that the Federal Reserve was prepared to take action if the economy required additional support. Silver spot prices ended last week at $31.27 after dipping below $30 earlier in the week. Silver's rally will look to continue in 2012 as China has recently received approval to begin trading silver futures. Five Star Equities examines the outlook for companies in the Silver Industry and provides equity research on Endeavour Silver Corp. (NYSE: EXK) and Hecla Mining Company (NYSE: HL).

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The China Daily newspaper on April 26th reported that China had received approval to start trading silver futures on the Shanghai Futures Exchange. "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." Allowing Chinese investors access to the silver market will provide an influx of investment dollars into the commodity, and make it more difficult for American speculators to manipulate the markets in their favor. Also 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% this year.

Five Star Equities releases regular market updates on the Silver Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.

Endeavour Silver recently announced that the Company set new records for silver and gold production in the First Quarter, 2012 from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State. Silver production was up 19% to 1,072,491 oz. and gold production was up 26% to 6,321 oz. compared to the First Quarter 2011.

Established in 1891, Hecla Mining Company has distinguished itself as the largest and one of the lowest cash cost silver producers in the U.S. The company has two operating mines and exploration properties in four world-class silver mining districts in the U.S. and Mexico. The company recently announced that it will release its first quarter 2012 financial and operating results before market open on Tuesday, May 8, 2012.

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(Source: Market Wire )
(Source: Quotemedia)


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