Friday, April 8, 2011

Silver Wheaton (SLW) (HL) (PAAS) (SSRI) Soar on $40 Silver

Shares of Silver Wheaton (NYSE:SLW) Hecla Mining (HL), Pan American Silver (NASDAQ:PAAS) and Silver Standard Resources (NASDAQ:SSRI) are soaring today as silver prices broke past the $40 an ounce psychological barrier.

With the surpassing of the $40 an ounce mark, silver has moved to another 31-year high, jumping by about 6.3 percent for the week.

Gold also soared, roaring to as high as $1,473 an ounce, reaching another all-time high. For the week gold has jumped 3.1 percent. Some of this is from the continual collapse of the U.S. dollar as the Federal Reserve and Ben Bernanke refuse to stop the printing presses.

Silver Wheaton was trading at $47.32, gaining $1.81, or 3.98 percent, as of 12:42 PM EDT. Pan American Silver was at $42.75, rising $3.41, or 8.67 percent. Hecla Mining was at $9.93, up $0.38, or 3.98 percent. Silver Standard Resources was trading at $35.60, increasing $1.31, or3.82 percent.

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