Friday, November 5, 2010

Endeavour Silver, (AMEX:EXK), Fortuna Silver (TSE:FR), FIRST MAJESTIC (TSE:FR) Rise on Fed Inflation Measures

Endeavour Silver Corp., (AMEX:EXK), Fortuna Silver Mines Inc. (TSE:FR), FIRST Majestic Silver Corp(TSE:FR) all rose Thursday on the inflationary measures of QE2 by the Federal Reserve, which pushed up the overall commodity market, along with companies within each sector, including the silver miners.

Commodity prices in general increased, including silver, which increased to over $26 an ounce. Gold prices soared to all-time record highs again, reaching close to $1,400 an ounce. Aluminum moved up to its highest levels since April.

Endeavour Silver closed at $5.25 Thursday, rising $0.41, or 8.47 percent. Fortuna Silver surged to close at $4.12, gaining $0.21, or 5.37 percent. First Majectic was up $9.66 at the end of the day, increasing by $0.86, or 9.77 percent.

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