Friday, November 5, 2010

Mag Silver (AMEX:MVG) Silver Wheaton (NYSE:SLW), Pan American(Nasdaq:PAAS) Surge on Fed QE

Mag Silver Corp. (AMEX:MVG) Silver Wheaton Corp. (NYSE:SLW), Pan American Silver Corp. (Nasdaq:PAAS) all soared Thursday on the news the Federal Reserve was going to inflate in a big way again, driving up the broader commodity market, along with individual companies within each sector.

Almost all commodity prices rose, including silver, which surpassed $26 an ounce. Gold prices rose to all-time records, while aluminum rose to its highest levels since April.

Mag Silver closed at $9.67 Thursday, rising $0.24, or 2.54 percent. Silver Wheaton surged to close at $32.20, gaining $2.59, or 8.75 percent. Pan American was up $34.51 at the end of the day, increasing by $2.06, or 6.35 percent.

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