BioTime (BTX) (AXU) (RBY) (BVX) (NSU) (MGN) (GMO) Biggest AMEX Gainers

BioTime Inc (BTX), Alexco Resource Corp. (AXU), Rubicon Minerals Corp. (RBY), Bovie Medical Corp. (BVX), Nevsun Resources Ltd (NSU), Mines Management Inc. (MGN) and General Moly Inc. (GMO) were the biggest gainers on the AMEX, Friday, December 16.

BioTime Inc (BTX) ended the day up 17.11 percent, closing at $4.38. They traded in a range of $3.69 to $4.38. A total of 290,958 shares changed hands.

Alexco Resource Corp. (AXU) ended the day up 12.82 percent, closing at $7.57. They traded in a range of $6.88 to $7.95. A total of 2,883,671 shares changed hands.

Rubicon Minerals Corp. (RBY) ended the day up 10.15 percent, closing at $3.58. They traded in a range of $3.35 to $3.62. A total of 2,360,903 shares changed hands.

Bovie Medical Corp. (BVX) ended the day up 8.70 percent, closing at $2.75. They traded in a range of $2.45 to $2.75. A total of 17,154 shares changed hands.

Nevsun Resources Ltd (NSU) ended the day up 6.46 percent, closing at $5.27. They traded in a range of $5.04 to $5.44. A total of 894,145 shares changed hands.

Mines Management Inc. (MGN) ended the day up 6.25 percent, closing at $2.21. They traded in a range of $2.10 to $2.24. A total of 193,155 shares changed hands.

General Moly Inc. (GMO) ended the day up 6.10 percent, closing at $3.48. They traded in a range of $3.27 to $3.53. A total of 908,464 shares changed hands.

Alexco Resource (AXU) Trades Down as Silver Prices Fall

Alexco Resource (AMEX: AXU) traded down as silver prices fell on Thursday.

Silver prices ended the session down. July delivery for silver fell 16.5 cents, or 0.5 percent, to $34.932 a troy ounce.

Gold for June delivery closed down $3.40, or 0.2 percent, at $1,492.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

The ICE Futures' dollar index was down 0.5 percent at 75.106. The U.S. dollar was down against most of its major peers at the end of trading Thursday.

Extremely bad news on Obama's economy pressured the commodity sector.

July contracts had copper falling 5.25 cents to settle at $4.0525 a pound and platinum dropped $10.90 to $1,769 an ounce. June palladium settled down $9.05 at $728.15 an ounce.

Housing sales and manufacturing data revealed an ongoing weak and fragile American economy.

Alexco Resource Corp. participates in the exploration and development of mineral properties in Canada, mostly in Yukon Territory.

Alexco Resource Corp. closed Thursday at $7.46, falling $0.17, or 2.23 percent.

Miners (SVM) (MFN) (EXK) (AXU) (SLW) Trade Up as Silver Rebounds

Shares of Silvercorp Metals Inc. (NYSE:SVM), Minefinders Corp. Ltd. (AMEX:MFN), Endeavour Silver (AMEX: EXK), Alexco Resource (AMEX: AXU) and Silver Wheaton (NYSE:SLW) as silver, gold and the majority of other commodity prices climbed on the day.

The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.

June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.

A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.

Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.

Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.

Silvercorp Metals Inc. (SVM) closed Wednesday at $10.38, gaining $0.36, or 3.59 percent.

Silvercorp (SVM) (CDE) (AXU) (FVITF) (EXK) Trade Down As Silver Rebounds

Silvercorp Metals Inc. (NYSE:SVM), Coeur d'Alene Mines (NYSE:CDE), Alexco Resource (AMEX:AXU), Fortuna (OTC:FVITF.PK) and Endeavour Silver (AMEX: EXK) trade down as silver climbed.

Silver and gold prices went through a reversal Friday, as gold closed down and silver rebounded to close higher, putting pressure on .

Silver prices settled up 21 cents to $35.01 an ounce. Gold for June delivery fell $13.10 to close at $1,493.60 at the Comex division of the New York Mercantile Exchange. The spot gold price was down by about $13 an ounce.

The U.S. dollar index was up 0.74 percent to $75.75 as the euro continued to get hammered on the sovereign debt crises in Europe. The euro plunged 1.7 percent last week as Greece was again in the spotlight for the need to probably be bailed out again, as it appears the country refuses to implement austerity measures to deal with the situation, as it, along with numerous countries, has made progressive, socialists promises they aren't able to keep.

Besides the long-term collapse of the U.S. dollar and the European sovereign debt crises, other factors offering support to gold include tightening in China, inflation, and unrest in the middle east.

Hecla Mining (HL) closed Friday at $8.13, down $0.01, or 0.12 percent.

Miners (HL) (SLW) (SVM) (AXU) (EXK) Trade Down Even as Silver Jumps Again

Shares of silver firms Hecla Mining (NYSE:HL), Silver Wheaton (NYSE:SLW), Silvercorp Metals Inc. (NYSE:SVM), Alexco Resource (AMEX: AXU) and Endeavour Silver (AMEX: EXK) closed down Tuesday, even though silver closed in positive territory.

Silver also extended its rebound, with the July contract gaining $1.37, or 3.7 percent, to $38.47 an ounce.

Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.

Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.

HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to from $1,300 $1,500 for 2012.

For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and from $20 $29 in 2012.

Platinum is seen closing 2011 from $1,750 to $1,850, according to HSBC, and ending 2012 at $1,750 from $1,650.

For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.

Endeavour Silver (EXK) closed at $10.03, down $0.08, or 0.79 percent.

Silver's (HL) (SSRI) (MGN) (SVM) (AXU) Trade Up as Silver, Gold Rebound

Silver companies Hecla Mining (NYSE:HL), Silver Standard Resources (NASDAQ:SSRI), Mines Management (AMEX:MGN), Silvercorp Metals Inc. (NYSE:SVM) and Alexco Resource (AMEX: AXU) closed up Monday as silver prices turned around on Monday.

Silver prices jumped $1.82 to close at $37.11 an ounce after plunging 27 percent last week.

According to research firm Lipper, last week almost $1 billion flowed out of silver exchange traded funds (ETFs).

Gold for June delivery increased $11.86 to settle at $1,503.20 at the Comex division of the New York Mercantile Exchange after dropping 4.8 percent in a week. The gold price Monday traded in a range as high as $1,512 and as low as $1,489.

The U.S. dollar fell to $1.434 against the euro and dropped against the Japanese yen to 80.24 yen.

Silvercorp Metals Inc. (NYSE:SVM) closed Monday at $11.64, gaining $0.50, or 4.49 percent. Mines Management (MGN) closed at $2.33, jumping $0.13, or 5.91 percent. Hecla Mining closed at $8.65, up $0.56, or 6.92 percent.

Silver's (MFN) (AXU) (HL) (GPL) (EXK) After Metal Trades Down

Silver prices continued to be pressured Friday, as it has been weighed down by the investors takeing profits in recent trade, and increased margin requirements, which has dragged silver companies Alexco Resource (AMEX:AXU), Hecla Mining (NYSE:HL), Great Panther (AMEX:GPL), Minefinders Corp. Ltd. (AMEX:MFN) and Endeavour Silver (AMEX:EXK) down on the week, although most rebounded on Friday.

Silver for July delivery dropped 95.3 cents, or 2.6 percent, to $35.29 an ounce on the Comex division of the New York Mercantile Exchange. It had risen as high as $36.43 an ounce in Friday's trading.

The front-month silver contract had its worst week since late March 1980. Silver for May delivery fell 27 percent in the five-day period — its biggest percent drop since that date. The most-active July contract also was down 27 percent on the week.

Silver has lost 14 percent so far in 2011. On April 25, silver had reached as high as $49.845.

Gold for June delivery climbed $10.20, or 0.7 percent, to $1,491.60 an ounce. Gold lost 4.2 percent last week, as it had settled at a record $1,556.40 an ounce the Friday before. Gold fell 4.2 percent on the week.

Endeavour Silver (EXK) closed Friday at $9.30, gaining $0.68, or 7.89 percent.

Endeavour (EXK) (AXU) (GPL) (SSRI) (EXK) (MFN) Crushed as Silver Drops

Alexco Resource (AMEX:AXU), Great Panther (AMEX:GPL), Silver Standard Resources (NASDAQ:SSRI), Endeavour Silver (AMEX:EXK) and Minefinders Corp. Ltd. (AMEX:MFN) got hit hard Thursday as gold and silver prices continued their fall.

The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.

Since the Friday settlement price silver has plummeted 25 percent.

Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.

The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.

Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.

As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.

Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.

Endeavor Silver (EXK) closed Thursday at $8.62, plummeting $1.37, or 13.71 percent.

Silver Firms (SLW) (HL) (ISVLF) (SVM) (AXU) Trade Mixed as Silver Takes Beating

Even though silver prices got pummeled again Wednesday, silver producers or companies Silver Wheaton (NYSE:SLW), Hecla Mining (NYSE:HL), Impact Silver (OTC:ISVLF.PK), Silvercorp Metals Inc. (NYSE:SVM) and Alexco Resource (AMEX: AXU) closed the trading day mixed, rebounding from recent losses.

The ongoing plunge in silver prices pressured commodities one Wednesday as investors sold holdings to take money off the table after weeks of prices rising in the sector.

Silver dropped $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver approached the elusive $50 an ounce mark last week.

Silver for July delivery dropped $2.820, at $39.765 per troy ounce.

Despite silver's three-day fall, the price is still 27.3 percent higher on the year.

Gold for June delivery, the most actively traded contract, fell $25.10 to $1,515.30 an ounce.

The U.S. dollar index lost 0.15 percent to $73.01.

Silver Wheaton closed Wednesday at $37.13, gaining $0.22, or 0.60 percent.

Pain for (MVG) (FVITF) (CDE) (PAAS) (AXU) As Silver Plummets

Shares of silver miners Mag Silver Corporation (AMEX:MVG), Fortuna (OTC:FVITF), Coeur d'Alene Mines (NYSE:CDE), Pan American Silver (NASDAQ:PAAS) and Alexco Resource (AMEX: AXU) were punished again as silver prices fell in Tuesday trading.

Silver plunged another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex. In after hours trading the price almost dropped below $40 an ounce.

Much of this has been the result of he decision by the CME Group to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.

To buy a 5,000 ounce contract, silver traders will now have to put up $16,200.

Leverage traders slashed their silver positions over the last couple of days, driving the price of silver down. Expectations are silver could bottom out as about $38 if there's more leverage leaving the market.

Other than some speculation, other reasons for the boost in silver prices include the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake. India also raised its interest rates unexpectedly on Tuesday, putting some downward pressure on gold and silver as well.

Pan American Silver closed Tuesday at $33.83, falling $0.67, or 1.94 percent.

Alexco (AXU) (SSRI) (CDE) (ISVLF) (MFN) Crushed as Silver Drops

Shares of Alexco Resource (AMEX: AXU), Silver Standard Resources (NASDAQ:SSRI), Coeur d'Alene Mines (NYSE:CDE), Impact Silver (OTC:ISVLF.PK) and Minefinders Corp. Ltd. (AMEX:MFN) got hammered as silver prices plunged Monday.

Gold for June delivery jumped 70 cents Monday to settle at $1,557.10 an ounce at the Comex division of the New York Mercantile Exchange. After losing 2.5 percent to drop to $1,540.30, the yellow metal rebounded to $1,577 an ounce.

Silver prices for July lost $2.51 to settle at $46.08 an ounce, after getting crushed 13 percent, as it fell as low as $42.20.

The U.S. dollar index changed directions after an rally early in the trading session Monday and was down 0.09 percent at $72.96. The U.S. dollar index was fell almost 4 percent in April and is struggling to keep from breaking below its record low of $71.

It is surprising to see gold and silver be pressured, as in April gold was up 8.92 percent and silver a whopping 28.72 percent.

One piece of financial information somewhat ignored Monday because of the hoopla surrounding the death of Osama bin Laden, was the manufacturing report concerning China in April which showed production had slowed down during the month. That should help the price of gold and silver going forward.

Silver Standard Resources closed Monday at $31.31, falling $3.43, or 9.87 percent.

Alexco (AXU) (PAAS) (SSRI) (HL) (GPL) Trade Mixed as Silver, Gold Break Records Again

Alexco Resource (AMEX: AXU), Pan American Silver (NASDAQ:PAAS), Silver Standard Resources (NASDAQ:SSRI), Hecla Mining (NYSE:HL) and Great Panther (AMEX:GPL) closed mixed Friday as silver and gold price records continue be broken.

Most-active July silver jumped $1.058, or 2.2%, to a record settlement of $48.599 a troy ounce, while the May contract rose $1.064, or 2.2 percent, to $48.584, just short of its all-time settlement high of $48.70 hit on January 17, 1980. In April, the May silver contract rallied $10.712, or 28.3 percent, to its biggest monthly U.S. dollar gain in Comex history.

Gold futures soared past $1,550 an ounce Friday as investors looked for an alternative to the U.S. dollar, which continues to collapse.

The most-actively traded gold contract, for June delivery climbed $25.20, or 1.6 percent, to settle at a record $1,556.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

It roared past its intraday peak to $1,569.80 in electronic trading after the close. May gold rose $25.20, or 1.6 percent, to end at a nearby record $1,556.00. Measured by percent and the U.S. dollar, it's the largest monthly gains since November 2009.

The ICE Futures U.S. Dollar Index was down 0.2 percent on Friday, increasing demand for the dollar-denominated precious metals by making them less expensive for foreign buyers.

Inflation concerns in America, Europe, China and Russia also has contributed to the jump in gold prices.

Other factors affecting gold and silver are the collapsing U.S. dollar, sovereign debt crisis in Europe, unrest in the Middle East and consequences of the Japanese earthquake.

Silver investors have been getting jittery over the soaring prices, the reason a number of companies are trading low in the midst of high silver prices.

Impact (ISVLF) (CDE) (AXU) (MFN) Close Mixed as Silver, Gold Break Records

Impact Silver (OTC:ISVLF), Coeur d'Alene Mines (NYSE:CDE), Alexco Resource (AMEX: AXU) and Minefinders Corp. Ltd. (AMEX:MFN) closed mixed Thursday even as gold and silver prices broke all-time records. It appears investors are taking some profits off the top.

Silver prices for July moved up $1.55 to settle at $47.54 an ounce.

Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.

Gold prices soared while silver prices climbed Thursday as investors bought the metals against a weak dollar and higher inflation expectations.

Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.

The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.

Endeavour (EXK) (AXU) (SLW) (PAAS) Close Up as Silver Jumps, Gold Prices Soar to New Records

Endeavour Silver (AMEX: EXK), Alexco Resource (AMEX: AXU), Silver Wheaton (NYSE:SLW) and Pan American Silver (NASDAQ:PAAS) close up as gold prices post new records again and silver soars.

Gold prices Wednesday soared to another record, reaching as high as $1,529.20 on the Comex division of the New York Mercantile Exchange, before ending the session at $1,517.10 an ounce for June at the Comex.

At the close of regular trading on Comex, silver for May delivery jumped 91 cents, or 2 percent, to end at $45.96 an ounce. Gold and silver were pushing higher in after-hours trading.

Some of this was the result of Federal Reserve chairman Ben Bernanke saying he won't be doing anything soon to combat the soaring inflation.

Bernanke likes to use the so-called core inflation numbers, which exclude food and fuel, which are part of the surging increase in inflation, but aren't officially counted. Which is why Bernanke can say core inflation will rise 1.3%-1.6%, below its 2% inflation mandate.

As to economic growth, Bernanke admitted it was slowing down in the U.S. in 2011, somewhere in the range of 3.1%-3.3%.

The non-action by the Fed concerning interest rates is a very bullish factor for gold and silver, and will continue to offer support and impetus to the precious metals.

The euro climbed to $1.4782 from Tuesday's $1.464. The U.S. dollar rose against the yen, up to 82.11 yen from Tuesday's 81.53 yen.

Pan American Silver closed Wednesday at $36.99, gaining $1.40, or 3.93 percent. Silver Wheaton ended the day at $42.01, rising $2.84, or 7.25 percent. Alexco Resource closed at $10.00, up $0.65, or 6.95 percent. Endeavour Silver closed the session at $11.95, climbing $1.29, or 12.10 percent.

Minefinders (MFN) (ISVLF) (HL) (AXU) Close Down as Silver, Gold Routed

Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820, as Minefinders Corp. Ltd. (AMEX:MFN), Impact Silver (OTC:ISVLF.PK), Hecla Mining (NYSE:HL) and Alexco Resource (AMEX: AXU) closed down.

Gold prices closed down Tuesday from records set the previous trading session, temporarily falling below the important $1,500 level at one point, but the losses in the yellow metal were subdued.

On the other hand, silver futures plunged Tuesday as investors took profits from record prices as uncertainty over the Federal Reserve policy decision coming up could have an adverse effect on the metals' unprecedented rally.

There is some wariness by some on how the Federal Reserve might respond in light of recent signs of higher food and energy prices.

Silver took a beating Tuesday. After setting records for seven out of the last eight trading sessions. Silver closed Tuesday almost 10 percent below Monday's intraday record $49.820.

The most actively traded silver contract, for May delivery, fell $2.099, or 4.5%, to settle at $45.050 a troy ounce on the Comex division of the New York Mercantile Exchange. Front-month April silver lost $2.093, or 4.4 percent, to finish at $45.058.

Most-active Comex June gold was down $5.60, or 0.4 percent, to settle at $1,503.50 a troy ounce while the nearby April contract fell $5.60, or 0.4 percent, to end at $1,503.00.

Gold trading near $1,500 an ounce has increased buying in silver as a less expensive alternative.

Alexco Resource (AXU) (MFN) (ISVLF) (MGN) Close Down as Silver Closes in on All-Time Record

Silver and gold prices are continuing their upward move, even as silver miners Minefinders Corp. Ltd. (AMEX:MFN), Impact Silver (OTC:ISVLF.PK), Mines Management (AMEX:MGN) and Alexco Resource (AMEX: AXU) all closed down, as investors took some profits as the white metal continued its upward run.

Investors all also getting increasingly nervous at the rate the precious metals are rising, giving pause as prices continue to hit all-time highs in the case of gold, and 31-year highs in the case of silver, as silver continues to push toward breaking its all-time high of just over $50 an ounce.

Gold closed at a new high, jumping $5.30 to settle at $1,509.10 an ounce at the Comex division of the New York Mercantile Exchange. Gold had ended the session above $1,500 for the first time last Thursday.

Today's Gold trading had the Globex June Gold contract trading at $1519.20 before a profit taking sell-off mid to latter part of the trading session.

Silver prices soared to a 31-year high again, settling at $47.15, up $1.09 for the day, or 2.4 percent. April silver futures in New York traded as high as $49.10 an ounce but dropped to close at $47.15 mark.

The more active May silver contract jumped just shy of the $50 level, trading as high as $49.82 before falling back.

An incredible number of silver and gold contracts were sold Monday, reaching 109,000 for gold and 199,000 for silver. Silver prices were volatile, moving in a $4.18 range.

Most of this is because of the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake.

The DXY index of the U.S. dollar's value against a basket six other major currencies fell 0.2 percent to 73.99, its lowest level since August 2008. It's down 6.4 percent so far in 2011.

Hecla (HL) (GPL) (PAAS) (AG) (AXU) Close Mixed Thursday as Silver Prices Reach 31-Year High

Silver miners Great Panther (AMEX:GPL), First Majestic (NYSE:AG), Hecla Mining (NYSE:HL) and Alexco Resource (AMEX: AXU) closed mixed Thursday as most have been running up with soaring silver prices, which ended the week with silver settling at a 31-year high of just over $46 an ounce. The most active Thursday silver contract, for May delivery, settled at a record $46.059 a troy ounce, up $1.598 or $3.6 percent.

The front-month contract, for April delivery, settled up $1.597, or 3.4 percent, at $46.062 a troy ounce, a 31-year high. Silver is quickly approaching its record high of $50.36 an ounce, set in 1980.

Gold futures hit another record high on Thursday, as gold gold for June delivery settled up $4.90 at $1,503.80 an ounce on the Comex. That was a new settlement high. The contract also reached an intraday high at $1,509.60 an ounce earlier in the day.

A collapsing U.S. dollar continues to be a major part of the gold and silver price story, as the U.S. government refuses to cut spending and limit its size, while the Federal Reserve endlessly has its digital printing presses running, pushing down the value of the greenback.

The dollar index .DXY fell 0.4 percent to 74.092 after falling to 73.735, its lowest level since August 2008.

Other key influences include deepening inflation, tightening in China, sovereign debt crisis in Europe, sovereign debt crisis in America, unrest in the Middle East and impact of the Japanese earthquake.

The weak U.S. dollar and inflation concerns has boosted the attraction of gold. Spot gold XAU= hit a record high at $1,508.75 before cutting gains. Spot silver XAG= jumped to a 31-year high at $46.68 an ounce.

Spot gold prices rose during the first quarter from $1,380 an ounce on January 3 to $1,430 on March 31.

Alexco Resource closed Thursday at $10.17, gaining $0.21, or 2.11 percent. Hecla ended the day at $9.46, rising $0.24, or 2.60 percent. First Majestic closed at $23.31, dropping $0.39, or 1.65 percent. Great Panther ended the session at $3.92, losing $0.08, or 2.00 percent.

Alexco Resource (AXU) (PAAS) (CDE) (AG) Close Up as Silver Jumps Again

Alexco Resource (AMEX:AXU), Pan American Silver (NASDAQ:PAAS), Coeur d'Alene Mines (NYSE:CDE) and First Majestic (NYSE:AG) closed up Wednesday as silver continues its upward climb gold to break records on almost a daily basis.

After surpassing the $45 level Wednesday, silver prices ended the day up 54 cents to close at $44.46 an ounce. That was also another 31-year high as it pushes to break $50 and move on to an all-time record. Silver traded between $43.835 and $45.400.

Gold prices roared to another intraday record, reaching as high as $1,506.20 an ounce before pulling back to settle for June delivery at $1,498.90 an ounce, an increase of $3.80 at the Comex division of the New York Mercantile Exchange.

Wednesday was the fourth session in a row gold prices broke an intraday record, as well as settling at a new record as well.

Gold and silver prices continue to surge on safe-haven buying with the major impetus at this time probably being a collapsing U.S. dollar. The U.S. dollar index fell 0.84% to $74.43 as it continues to struggle after Monday's S&P downgrade of the U.S. economy and warning of a credit downgrade if the U.S. doesn't quit its outrageous spending and reduce its debt.

The downgrade of the outlook of U.S. debt, sovereign debt crisis in Europe, Chinese inflation, soaring oil prices, and the ongoing fallout from the earthquake in Japan are just some of the other factors offer support to gold.

The gold-silver ratio, which measures how many silver ounces are needed to acquire an ounce of gold, fell under 34 — its lowest level since 1983.

First Majestic closed Wednesday at $23.70, up $0.94, or 4.13 percent. Coeur d'Alene Mines closed at $31.61, gaining $0.50, or 1.61 percent. Pan American Silver ended the trading day at $37.63, jumping $1.10, or 3.01 percent. Alexco Resource closed at $9.96, up $0.39, or 4.08 percent.

Silver Pushing $44 as Endeavour (EXK) (MGN) (AG) (AXU) Close Mixed

Silver prices moved up with gold, reaching another 31-year high as gold blew past the $1,500 an ounce mark on Tuesday. Silver companies like Alexco Resource (AMEX:AXU), Mines Management (AMEX:MGN), First Majestic (NYSE:AG) and Endeavour Silver (AMEX:EXK) closed mixed on the day.

Silver prices for May delivery climbed almost a dollar to settle at $43.91, adding 96 cents, another 31-year high.

The gold contract for June delivery jumped $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to $1,495.90 an ounce.

Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake. Silver is used by some investors as a gold alternative when gold price rise to high levels as they now are.

The warning from rating agency S&P that the U.S. may have its debt downgraded if it doesn't deal with the risky debt crisis and you have a weak macroeconomic outlook favoring silver, gold and other commodities.

Endeavour Silver closed Tuesday at $11.69, gaining $0.09, or 0.78 percent. First Majestic Corporation ended the session at $22.76, up $0.03, or 0.13 percent. Mines Management closed at $2.55, losing $0.08, or 3.04 percent. Alexco Resource closed the day at $9.57, gaining $0.06, or 0.63 percent.

Alexco (AXU) (AG) (GPL) (PAAS) Close Down Even as Silver Prices Surge Again

Even though silver prices traded at another 31-year high on Monday, that wasn't the direction for most silver companies, as First Majestic (NYSE:AG), Alexco Resource (AMEX:AXU), Pan American Silver (NASDAQ:PAAS) and Great Panther (AMEX:GPL) all closed down on the day.

Silver prices for May delivery rose 38.5 cents, or 0.9 percent, to settle at $42.956 an ounce. Silver traded in a range from $42.200 to $43.560 — again its highest level in 31 years.

U.S. gold futures for June delivery settled up $6.90 an ounce at $1,492.90.

The sovereign debt crisis in Europe continues to push up silver prices, as the euro and U.S. dollar face pressures on out-of-control government spending and refusal to make meaningful spending cuts.

Global inflation and unrest in the Middle East are also major factors in the silver price equation, as investors put money in the precious metal as a gold alternative.

As to why most silver miners have been pulling back, much of that is based on the fact the majority of the miners are based in Canada, and so the weaker U.S. dollar as it relates to the Canadian dollar is a major factor a lot of investors in silver companies don't take into account.

Great Panther closed Monday at $4.01, dropping $0.07, or 1.72 percent. Pan American Silver closed at $37.46, falling $0.61, or 1.60 percent. Alexco Resource ended the day at $9.51, down $0.13, or 1.35 percent. Fortuna closed at $22.73, losing $0.96, or 4.05 percent.