SILVER (Ag) PRODUCERS

[NYBob]

Sector Snap: Silver
Associated Press 09.17.08, 3:37 PM ET
WASHINGTON -

Shares of silver mining companies were a bright spot Wednesday as investors sought refuge from the broader market free-fall.

The Dow dropped more than 300 points as anxieties over the financial system rippled through the U.S. market after the government agreed to bail out American International Group Inc. (nyse: AIG - news - people ), the world's largest insurer. Prices for silver, gold and other safe-haven commodities, jumped as investors pulled money out of equities and put it into less volatile assets.

The price for silver on the Comex division of the New York Mercantile Exchange soared $1.158 cents to settle at $11.675 per ounce in afternoon trading.

Silver Standard Resources Inc. (nasdaq: SSRI - news - people ) and Coeur d'Alene Mines (nyse: CDE - news - people ) Corp. led the run-up with each gaining 25 percent and 20 percent, respectively.

Shares of Silver Standard Resources gained $3.40, or 22.6 percent, to $18.44 in late afternoon trading, while Coeur d'Alene shares advanced 30 cents, or 20 percent to $1.73.

Other silver miners including Silver Wheaton Corp. (nyse: SLW - news - people ) added $1, or 11.9 percent, to $9.41, just as Pan American Silver Corp. (nasdaq: PAAS - news - people ) gained $2.86, or 14 percent, to $23.01.

Hecla Mining Co. (nyse: HL - news - people ) picked up 46 cents, or 10 percent, to $4.99.

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