Why Coeur Mining Stock Fell as Much as 11.5% This Week
Shares of precious metals miner Coeur Mining (NYSE: CDE) fell as much as 11.5% this week according to data from S&P Global Market Intelligence. By the open of trading on Friday, Jan. 28, the stock was still off by a touch over 11%. Both silver and gold have been weak the last couple of days, so the declines make sense.
On Jan. 27, silver fell more than 4%. Gold was off around half that much, which is fairly normal because silver tends to be more volatile. While that was a particularly bad day for both metals, silver has been in a downtrend since Jan. 20. Gold has really fallen only in the last two days. The ups and downs in precious metals right now are being heavily driven by economic news, including the U.S. Federal Reserve's plan to raise interest rates. These metals are often viewed as safe haven investments, and investors have a habit of jumping in and out of them and the miners that produce them rather quickly and dramatically.
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Source Fool.com
