Silver Wheaton (SLW) Pressured after Silver Misses Record

Shares of Silver Wheaton (NYSE:SLW) were under pressure as were other miners (HL) (PAAS) and (SSRI), after silver missed a record price level and pulled back.

Spot silver prices fell close to 2 percent, wiping out sharp initial gains, after a technical failure to take out a record price set in 1980 triggered a heavy bout of selling.

Spot silver XAG= was lower by 0.8 percent to $46.29 an ounce, off from a session high of $49.31. U.S. silver futures soared as much as over 8 percent to a intraday high of $49.82 an ounce, off an all-time peak of $50.35 set Jan. 18, 1980.

Canaccord Genuity recently upgraded Silver Wheaton from a "Hold" to a "Buy."

Silver Wheaton was trading at $41.61, falling $0.75, or 1.77 percent, as of 12:36 PM EDT.

Barrick (ABX) (GG) (NEM) Jump as Gold Breaches $1,500 For First Time

Shares of gold mining giants Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG) and Newmont Mining (NYSE:NEM) were trading up today as gold prices soared past the $1,500 an ounce mark for the first time in history.

The gold contract for June delivery was up $4.50 at $1,497.40 an ounce Tuesday and has traded as high as $1,500.50 an ounce.

Silver prices for June delivery were up 75 cents to $43.71 an ounce.

The dollar was down against 12 of 16 major peers, losing 1 percent or more versus Norway’s krone and Sweden’s krona. The euro was up against 13 of its 16 major counterparts.

The Canadian dollar strengthened 0.8 percent to $1.0450 after the consumer price index rose 3.3 percent in March over last year, compared with a 2.2 percent pace of increase in the previous month.

Newmont Mining was trading at $58.32, gaining $0.45, or 0.78 percent, as of 2:11 PM EDT. Goldcorp was at $54.61, rising $0.89, or 1.66 percent. Barrick Gold was trading at $54.15, up $0.68, or 1.27 percent.

Endeavour Silver (EXK) (SSRI) (HL) (CDE) Climb as Gold, Silver Surge

Gold and silver prices are rocking again after remaining level for some time on unjustified optimism which has resulted in silver miners such as
Endeavour Silver (AMEX:EXK), Silver Standard Resources (NASDAQ:SSRI),
Hecla Mining (NYSE:HL) and Coeur d'Alene Mines (NYSE:CDE) soaring with the precious metals.

On Friday Silver prices increased to a 31-year high, closing at 40.60 an ounce after reaching a high of $40.63 an ounce during the session. gold prices rose to another new record, rising to a high of $1,476 an ounce.

Most of this is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, worsening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.

Strangely, many investors are acting as if these are some parenthetical events that have little bearing on the markets and commodity prices.

Coeur d'Alene Mines closed Friday at $36.69, gaining $0.63, or 1.75 percent. Hecla Mining closed at $9.76, rising $0.21, or 2.20 percent. Silver Standard Resources closed at $35.08, rising $0.79, or 2.30 percent. Endeavour Silver closed at $12.37, up $0.47, or 3.95 percent.

Endeavour (EXK) (AXU) (CDE) (AG) Jump as Silver Passes $40

With silver breaking the psychological $40 an ounce mark today, silver miners like Endeavour Silver (AMEX:EXK), Alexco Resource (AMEX:AXU), Coeur d'Alene Mines (NYSE:CDE) and First Majestic (NYSE:AG) are all trading in the positive.

The $40 an ounce price brings silver to another 31-year high, as each upward move it makes takes it to that level. This week silver prices have increased by 6.3 percent.

Gold has also traded higher, breaking another all-time record, soaring above $1,473 an ounce at one point. Gold has moved up 3.1 percent for the week.

With silver as an investment metal being the impetus behind the price surge at this time, the falling value of the U.S. dollar has been playing a major role in the price movement.

First Majestic Silver was trading at $25.70, gaining $0.43, or 1.70 percent, as of 1:07 PM EDT. Coeur d'Alene Mines was trading at $37.21, rising $1.15, or 3.19 percent. Alexco Resource was at $9.78, rising $0.21, or 2.19 percent. Endeavour Silver was trading at $12.69, up $0.79, or 6.64 percent.

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.

Silver Wheaton (SLW) (SLV) (PAAS) (HL) Jump on Soaring Silver Prices

Silver prices soared to another 31-year high Tuesday, gaining 69 cents, or 1.8 percent, to $39.18 an ounce. Silver companies like Silver Wheaton (NYSE:SLW), Pan American Silver (NASDAQ:PAAS) and Hecla Mining (NYSE:HL) all climbed with the surge in silver prices, as did iShares Silver Trust (NYSEArca:SLV).

Most of the rise in silver prices is attributed at this time to investment rather than industrial demand, and that is expected to continue for some time, with the probability of the lasting throughout the next decade.

In the short term, expectations are silver will probably move past $40 and ounce and pull back afterwards.

That wouldn't be surprising even with strong demand, as silver has been historically more volatile than gold, and will probably continue to perform in that manner, especially when investment demand is the key driver.

iShares Silver Trust closed Tuesday at $38.34, gaining $0.76, or 2.02 percent. Silver Wheaton closed at $45.94, rising $1.84, or 4.17 percent. Pan American Silver ended the session at $40.06, increasing $1.42, or 3.67 percent. Hecla Mining rose to $9.53, up $0.40, or 4.38 percent.

Newmont (NEM), Barrick (ABX), Goldcorp (GG), Eldorado (EGO) Jump on Safe Haven Focus

A number of things have again been lining up to support gold recently, including continuing sovereign debt issues in the EU; most recently with Spain. There's also rising inflation, and today's reminder with the earthquake in Japan, the fragility of the global economy. There's also the fighting in Libya which hasn't slowed down at all, creating more uncertainty.

Consequently investors are again migrating to gold and gold investments like miners Newmont (NYSE:NEM), Barrick (NYSE:ABX), Goldcorp (NYSE:GG), Eldorado Gold (NYSE:EGO), which are all up today as gold prices are bid up.

Gold for April delivery rose $7.10, or 0.5%, to $1,419.50 an ounce on the Comex division of the New York Mercantile Exchange.

Shares in SPDR Gold Trust (NYSEArca:GLD), Market Vectors Gold Miners ETF (NYSEArca:GDX) and Market Vectors Junior Gold Miners ETF (NYSEArca:GDXJ) are all up as well.

Silver investments like the iShares Silver Trust (NYSEArca:SLV) and Global X Silver Miners ETF (NYSEArca:SIL), along with Silver Wheaton (NYSE:SLW), are all up as well, moving in unison with gold.

Gold, Silver Prices Today Rise to 30-Year High on Unrest in Middle East

Ongoing unrest in the middle east is causing investors to push up the price of gold and silver today, with silver reaching a 30-year high, and palladium also rising to its highest levels in 10 years.

Physical demand for gold in the middle east has been skyrocketing, increasing 39 percent in the fourth quarter, according to World Gold Council, as locals in the region see the potential for instability for some time ahead.

Gold for immediate delivery climbed $2.85, or 0.2 percent, to $1,386.95 an ounce by 8:50 AM in London. Gold futures for April delivery jumped $2.20, or 0.2 percent, to $1,387.30 an ounce on the Comex in New York.

Silver climbed as much as 0.6 percent to $31.9775 an ounce, the highest since March 7, 1980, and palladium rose 0.5 percent to $848.88 an ounce, the highest level since Feb. 28, 2001.