Here's Why Silver Stocks Are Soaring Again Today
The G7 Summit did little to assuage investor anxieties over mounting economic risks. Brazil rebuffed a helping hand to stamp out forest fires in the Amazon rainforest, while analysts didn't find it any easier to predict the next steps in the trade war between the United States and China. There may have been only one clear winner: precious metals.
Consider that the price of silver has risen from $14.61 per ounce in late May to $18.20 per ounce today. That's a pretty spectacular run for the precious metal, which is now trading at its highest level since a brief period in early 2017.
At the end of trading Tuesday, shares of Silvercorp Metals (NYSEMKT: SVMLF) had settled to an 11.8% gain. Shares of Coeur Mining (NYSE: CDE) were up 9.8%, while shares of Alexco Resource (NYSEMKT: AXU) had gained 15%.
Source Fool.com
