Silver Wheaton Corp. (NYSE:SLW), iShares Silver Trust (NYSE:SLV), Pan American Silver Corp. (Nasdaq:PAAS), Coeur d`Alene Mines Corporation (NYSE:CDE) and Mines Management (AMEX:MGN) all pushed up Tuesday as silver prices rose to 31-year highs.
Silver, which is considered an industrial and investment metal, is used by investors as a secondary place to put their capital - other than gold - as a safe haven.
Silver futures settled on the COMEX March contract at $34.43, increasing $0.61, or 1.8 percent. Silver rose to $34.57 an ounce. So far in 2011 silver prices have risen 11.7 percent.
Silver Wheaton closed Tuesday at $43.58, jumping $1.03, or 2.42 percent. iShares Silver Trust closed at $33.87, up $0.76, or 2.30 percent. Coeur d`Alene Mines closed at $32.86, gaining $1.35, or 4.28 percent. Pan American Silver closed at $39.90, up $0.80, or 2.05 percent. Mines Management closed at $3.93, increasing $0.45, or 12.93 percent.
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