With silver breaking the psychological $40 an ounce mark today, silver miners like Endeavour Silver (AMEX:EXK), Alexco Resource (AMEX:AXU), Coeur d'Alene Mines (NYSE:CDE) and First Majestic (NYSE:AG) are all trading in the positive.
The $40 an ounce price brings silver to another 31-year high, as each upward move it makes takes it to that level. This week silver prices have increased by 6.3 percent.
Gold has also traded higher, breaking another all-time record, soaring above $1,473 an ounce at one point. Gold has moved up 3.1 percent for the week.
With silver as an investment metal being the impetus behind the price surge at this time, the falling value of the U.S. dollar has been playing a major role in the price movement.
First Majestic Silver was trading at $25.70, gaining $0.43, or 1.70 percent, as of 1:07 PM EDT. Coeur d'Alene Mines was trading at $37.21, rising $1.15, or 3.19 percent. Alexco Resource was at $9.78, rising $0.21, or 2.19 percent. Endeavour Silver was trading at $12.69, up $0.79, or 6.64 percent.
Friday, April 8, 2011
Endeavour (EXK) (AXU) (CDE) (AG) Jump as Silver Passes $40
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