Gold and silver shares rallied Thursday, with the Philadelphia Gold & Silver Index (XAU) higher by 1.2% at 189.12 in late morning trading.
Two of the top performing large-cap gold stocks were Yamana Gold (AUY) and Randgold Resources (GOLD) – which rose 1.5% and 1.4%, respectively. Among silver stocks, Silver Wheaton (SLW) surged 3.0% and Silver Standard Resources (SSRI) advanced 1.8%.
Gold and silver shares also outperformed the broader equity markets, as the Dow Jones Industrial Average (DJIA) rose just 0.5% to 10,997.62.
Precious metals equities were supported by modest strength in gold and silver futures. The yellow metal added $3.80 to $1,645.40 per ounce, while its sister precious metal jumped 2.9% to $39.23 per ounce.
In currencies, the U.S. Dollar Index (DXY) fell 0.3% to 78.752, while the euro climbed 0.5% to 1.3409.
Fortuna Silver to Begin Trading on NYSE
- Established in 2004, Fortuna is a growth-oriented, silver and base metal producer focused on mining opportunities in Latin America.
- The Company's primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico.
- Shares of FVI.TSX have climbed 26.6% in 2011, bringing the company's market capitalization to C$746.3 million.
