Gold and silver prices fell Tuesday after running up recently, as oil prices fell, dragging commodities in general down with them. Silver Wheaton (NYSE:SLW), Pan American Silver (NASDAQ:PAAS), Silver Standard Resources (NASDAQ:SSRI), Hecla Mining (NYSE:HL), Coeur d'Alene Mines (NYSE:CDE) all closed down on the day
Gold for June delivery fell $14.50, or 1%, to $1,453.60 an ounce on the Comex division of the New York Mercantile Exchange. It had traded as low as $1,445 an ounce.
Silver declined from a 31-year high over the previous session. The May contract (SIK11) dropped 55 cents, or 1.3%, to settle at $40.07 an ounce.
The U.S. dollar dropped again, making the downward move even more counterintuitive to the fundamentals.
Coeur d'Alene Mines closed Tuesday at $34.61, down $0.97, or 2.73 percent. Hecla Mining closed at $8.98, falling $0.15, or 1.64 percent. Silver Standard Resources ended the session at $33.42, declining $1.59, or 1.73 percent. Pan American Silver closed at $40.19, dropping $0.76, or 1.86 percent. Silver Wheaton closed at $42.37, falling $1.74, or 3.94 percent.
Wednesday, April 13, 2011
Hecla Mining (HL) (SLW) (PAAS) (SSRI) (CDE) Plunge with Broader Commodities
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment