Friday, November 5, 2010

Silver Standard Resources Nasdaq:SSRI), Minefinders (AMEX:MFN), Silvercorp (NYSE:SVM) Soar on Fed's QE2

Silver Standard Resources Inc. Nasdaq:SSRI), Minefinders Corp. Ltd. (AMEX:MFN), Silvercorp Metals Inc. (NYSE: SVM) all soared Thursday on the implemention of QE2 by the Federal Reserve which will inflate the economy going forward, which pushed up the broader commodity market, along with individual companies within each sector, including silver miners.

The majority commodity prices increased, including silver, which rose to over $26 an ounce. Gold prices rose to all-time records again, closing in on the $1,400 an ounce mark, while aluminum increased to its highest levels since April.

Silver Standard closed at $25.95 Thursday, rising $1.81, or 7.50 percent. Minefinders surged to close at $9.32, gaining $0.57, or 6.51 percent. Silvercorp was up $11.57 at the end of the day, increasing by $1.55, or 15.47 percent.

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