Tuesday, December 28, 2010

Silver Wheaton (NYSE:SLW), Hecla Mining (NYSE:HL), Gammon Gold (NYSE:GRS) Gain as Dollar Drops, Gold, Silver Rise

Mining stocks finally had something to give them a much-needed boost, after most have been struggling since December 6. That has changed today as Silver Wheaton Corp (NYSE:SLW), Hecla Mining Co (NYSE:HL) and Gammon Gold Inc (NYSE:GRS), among numerous others, have enjoyed a resurgence as the U.S. dollar resumed its downward spiral and gold and silver prices pushed up.

Gold on the New York Mercantile Exchange increased by 1.71% to $1406.6 an ounce in trading, while spot gold has held over $1,400 an ounce after gaining over $20.

The usual sell-off after noon didn't come about today, as fundamentals seem to have held gold and silver prices in place.

Silver Wheaton was trading at $38.28, gaining $1.71, or 4.68 percent, as of 1:13 PM EST. Hecla Mining soared to $11.20, up $0.54, or 5.07 percent. Gammon Gold increased to $7.99, up $0.32, or 4.17 percent.

No comments: