Look to Canada for Precious Metal Winners

• By the tickerspy.com Staff
• On 10:31 am EST, Monday November 9, 2009

It was hard to miss in the precious metals sector on Monday, but picking winners within the sector could double profits.

If your precious metals portfolio isn't earning over 3% today, you're doing something wrong. The vast majority of miners are trading higher to start the week, many by 5% or more. For traders in the U.S., picking winners is as simple as looking north, as Canadian miners are leading the way.

As a whole, the Canadian Mining Stocks Index is up by 5.3% today. Today's spike is enough to push the sector ahead of the S&P 500 over the last month.

Gold miners Nevsun Resources (AMEX: NSU - News) and Gammon Gold (NYSE: GRS - News), and silver play Silvercorp Metals (NYSE: SVM - News) are all up by over 5.5% in the session.

The Gold and Silver Stocks Index is higher by 4.2% in today's session. Canadian giants Barrick Gold (NYSE: ABX - News) and Goldcorp (NYSE: GG - News) are ahead by over 3% in the session, while Colorado-based Newmont Mining (NYSE: NEM - News) and South African AngloGold Ashanti (NYSE: AU - News) push higher by over 2%.

Platinum and palladium stocks are also surging on the dollar's weakness. Toronto's North American Palladium (AMEX: PAL - News) and Montana-based Stillwater Mining (NYSE: SWC - News) are both up by more than 3% today. As a whole, the Platinum and Palladium Stocks Index is advancing by 3.6%.

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