Alexco Resource (AMEX:AXU), Mines Management (AMEX:MGN) Rise as Metals Price Move Up

Metals miners enjoyed a great day today, as a number of precious metals rose on an increased positive outlook by investors, even though many pointers are out there showing there's a lot of risk.

Even today's confirmation China is continuing to cool off their economy was pretty much shrugged off by investors, so you know emotion is ruling the market at this time. After all, if investors aren't concerned over China slowing down, they're looking in the wrong place.

News that Europe was allegedly improving in a non-story. That's the narrative the mainstream media is carrying now, and that probably won't change, even though the region remains under extraordinary stress.

For smaller miners like Alexco Resource (AMEX:AXU) and Mines Management (AMEX:MGN) though, they can move up nicely in investing environments like this, and did, with both of them moving up in conjunction with metals prices.

Alexco traded at $3.19 at the end of the day, gaining $0.11, or 3.57 percent. Trading volume was less than half the 3-month average, pointing to large caps being on the radar of traders at this time. Even so, those holding shares in the company enjoyed a nice move.

Mines Management (AMEX:MGN) made an even bigger move, as measured by percentages, ending the trading session at $1.62, a gain of $0.07, or 4.52 percent. Trading volume was also down for Mines Management as it was for Alexco.

As long as emotion and not facts rule the market, companies like these could move up nicely, although we know they can also come down just as fast when the other side of the picture is focused on.

The question is how long with the optimism remain and commodity prices continue to rise.

Updates on Ivanhoe (NYSE:IVN), Brigus Gold (AMEX:AGT) and Gammon Gold (NYSE:GRS)

We like to follow gold miners here at Everything Gold to see how they move in relationship to gold price movements, which aren't always in unison with one another.

On Comex division of the New York Mercantile Exchange, gold for October delivery settled at $1,185.40, a gain of $1.50 an ounce. Spot gold increased a modest $0.86 to $1.181.84.

Let's look at Ivanhoe Mines Ltd. (NYSE:IVN), Brigus Gold (AMEX:AGT) and Gammon Gold (NYSE:GRS) to see how they fared today.

Brigus Gold, the result of the recent merger of Apollo Gold (AMEX:AGT) and Linear, remained the same today, as the tiny exploration company had no news to make it move. Brigus closed at $0.31 with no change.

Gammon Gold (NYSE:GRS), who will release their second-quarter report on August 10, got hit harder today, dropping $0.15, or 2.52 percent. Some of their competitors like Northgate Minerals (AMEX:NXG), have more proven or probable gold reserves, making them more desirable at this time.

Ivanhoe Mines Ltd. (NYSE:IVN), among my favorite gold miners and miners in general for the long term, based on their portfolio of projects, led by the incredible Oyu Tolgoi mine based in Mongolia, which will ultimately place them in the elite of mining companies when production is in full swing.

Ivanhoe closed at $18.4 Monday, up $0.28, or 1.58 percent.