By Jerry Kronenberg | Moomoo News
Silver prices rose to an 11-year high Friday, taking stocks of silver miners like $Coeur Mining (CDE.US)$ with them.
COMEX silver for July delivery rose as much as 6.2% to a $31.715-an-ounce intraday high – the metal’s heftiest price since 2013.
Prices reportedly rose amid a combination of inflation jitters and potential demand for the metal in electricity production. Silver is a good electrical conductor.
The rally sent several silver-mining stocks higher, led by CDE, which gained as much as 12.7% to $5.94, the stock’s highest price since November 2021.
Other silver-mining stocks gaining ground as of shortly before 4 p.m. ET included:
-- $Hecla Mining (HL.US)$, gaining 11,2%
-- $Fortuna Silver Mines (FSM.US)$, up 7.1% to a new 52-week high
-- $First Majestic Silver (AG.US)$, gaining 6.5%
-- $Pan American Silver (PAAS.US)$, +4.2% to a 52-week high