Tuesday, November 16, 2010

Coeur d'Alene Mines (NYSE:CDE), Goldcorp (NYSE:GG), Pan American (Nasdaq:PAAS) Drop

The rising price of gold and silver futures wasn't enough to help miners like Coeur d'Alene Mines (NYSE:CDE), Goldcorp (NYSE:GG) and Pan American Silver (Nasdaq:PAAS), as many gold and silver companies dropped in conjunction with spot prices.

Gold futures for December delivery settled up $3 to $1,368.50 an ounce at the Comex division of the New York Mercantile Exchange.

Silver for December delivery rose 58 cents, or 0.2%, to $26.09 an ounce.

The U.S. dollar index was stronger Monday, rising to $78.43, a gain of 0.45 percent. The euro fell to $1.36 against the dollar.

Pan American Silver closed Monday at $35.89, falling $0.89, or 2.42 percent. Goldcorp ended at $45.93, losing $0.51, or 1.10 percent. Coeur d'Alene Mines ended the trading day at $22.82, dropping $0.14, or 0.61 percent.

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