Here's Why Gold Stocks Soared Today
Shares of most precious metals producers posted healthy gains Tuesday as the S&P 500 bounced back from a 12% decline on Monday. Investors might not want to get too carried away -- volatility is likely here to stay given the circumstances -- but Wall Street reacted favorably to new federal stimulus measures being planned to prop up the American economy.
That propelled shares of Coeur Mining (NYSE: CDE) as much as 39.9% higher. Shares of Hecla Mining (NYSE: HL) rose as much as 29.4%, whereas shares of Yamana Gold (NYSE: AUY) and Franco Nevada (TSX: FNV) hit daily highs of 22% and 16.7%, respectively. All of the gold and silver stocks cooled off a bit in late-afternoon trading.
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Source Fool.com
