Monday, November 8, 2010

Hecla Mining (NYSE:HL) Explodes as Silver Ready to Shine

Silver has been lagging the price movement of gold for some time, but that has started to change lately, and silver miners like Hecla Mining Company (NYSE:HL) are starting to move up with silver prices, as gold investors look to alternatives as gold prices soar to record levels on consistent basis.

Historically when gold reaches certain levels, investors tend to migrate to silver because it will usually outperform gold at certain price points, and that seems to be approaching now, although both are excellent investments at this time.

Over the last five trading days Hecla seems to be making a major move, and today are surged to $8.75 a share, gaining $0.82, or 10.34 percent at 2:28 PM EST.

Once more investors see this trend developing, we will probably see an entire market sector push up again, with silver miners outperforming gold miners in many cases.

Either way, it's doubtful investors will lose one way or the other, but silver will probably become the better play in most cases, although there are some gold miners which could do as well going forward.

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