Monday, April 11, 2011

Endeavour Silver (EXK) (SSRI) (HL) (CDE) Climb as Gold, Silver Surge

Gold and silver prices are rocking again after remaining level for some time on unjustified optimism which has resulted in silver miners such as
Endeavour Silver (AMEX:EXK), Silver Standard Resources (NASDAQ:SSRI),
Hecla Mining (NYSE:HL) and Coeur d'Alene Mines (NYSE:CDE) soaring with the precious metals.

On Friday Silver prices increased to a 31-year high, closing at 40.60 an ounce after reaching a high of $40.63 an ounce during the session. gold prices rose to another new record, rising to a high of $1,476 an ounce.

Most of this is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, worsening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.

Strangely, many investors are acting as if these are some parenthetical events that have little bearing on the markets and commodity prices.

Coeur d'Alene Mines closed Friday at $36.69, gaining $0.63, or 1.75 percent. Hecla Mining closed at $9.76, rising $0.21, or 2.20 percent. Silver Standard Resources closed at $35.08, rising $0.79, or 2.30 percent. Endeavour Silver closed at $12.37, up $0.47, or 3.95 percent.

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