MAG - Why Silver Stocks Popped This Week
2024-04-05 11:15:23 ET
The silver market was one of the big winners on the stock market this week after silver prices hit a multiyear high. Not only did silver have a good week, but gold was up as tensions in the Middle East and concerns about inflation heated up.
According to data provided by S&P Global Market Intelligence , First Majestic Silver (NYSE: AG) led the way, rising as much as 24.1% this week; Fortuna Silver Mines (NYSE: FSM) popped 22.7%; Pan American Silver (NYSE: PAAS) was up 11.9%; and Mag Silver (NYSEMKT: MAG) jumped 13.1% at its peak.
The price of silver hit a two-year high this week, following a sharply higher move by gold. The two metals often trade in lockstep, and that was true again this week.
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Why Silver Stocks Popped This Week