GPL - Why Gold and Silver Miners Like Coeur Mining First Majestic Silver and Great Panther Mining Rallied on July 21
Shares of precious-metals miner Endeavor Silver (NYSE: EXK) rose as much as 17% on July 21. While the stock was one of the biggest gainers, it was hardly alone: Americas Gold and Silver (NYSEMKT: USAS) was up nearly 16%; Silvercorp Metals (NYSEMKT: SVMLF) nearly 13%; Fortuna Silver Mines (NYSE: FSM), 12%; Coeur Mining (NYSE: CDE) roughly 11.5%; Great Panther Mining (NYSEMKT: GPL), 11%; Gold Resource Corporation (NYSEMKT: GORO) just under 11%; and First Majestic Silver (NYSE: AG), up just about 10.5%.
All of these gold and silver miners gave up some of their gains as the day progressed, but by 2 p.m. EDT, they were all holding on to high-single-digit to low-teens advances.
Both gold and silver prices were higher today. Gold was up about 1.5% at 2 p.m. EST, with silver up a far more impressive 6.5% or so. That continues an impressive run by silver that started in mid-March -- the metal has risen by more than 75%, using iShares Silver Trust as a proxy. Gold, by comparison, has been heading higher, but not to nearly the same degree, with a roughly 23% advance since its March lows, using SPDR Gold Shares as a proxy.