Fortuna (FVITF) (SLW) (ISVLF) (GPL) Trade Down Even as Silver Continues to Rise

Silver again hit new 31-year highs Friday soaring as high as $42.95 an ounce, closing the week up 4.9%. Silver for May delivery rose 90.7 cents to settle at $42.571 an ounce. Silver has risen just under 40 percent so far in 2011. Impact Silver (OTC:ISVLF.PK), Silver Wheaton (NYSE:SLW), Great Panther (AMEX:GPL) and Fortuna (OTC:FVITF.PK) traded down on the day.

Gold prices soared toward the $1,500 an ounce mark, trading on Friday as high as $1,488 an ounce in afternoon action until closing at $1,486.50 an ounce.

Inflation continues to be a major factor in silver price movement, as it has with many precious and base metals. as food and fuel prices in the U.S. continue to soar and consumer prices in China climb.

The continual collapse in the U.S. dollar, sovereign debt crisis in Europe and the unrest in the Middle East makes silver and gold an attractive safe haven alternative for capital.

Fortuna closed Friday at $6.43, falling $0.12, or 1.85 percent. Great Panther closed at $4.08, down $0.08, or 1.92 percent. Silver Wheaton closed at $42.61, dropping $0.27, or 0.63 percent. Impact Silver ended the day at $2.73, losing $0.07, or 2.69 percent.