Rising gold and silver prices push our silver picks Coeur d’Alene Mines Corp. (NYSE:CDE), Silver Wheaton (NYSE:SLW), Hecla Mining Co. (NYSE:HL) well into the black.

Gold’s been going up, knocking at the $1,000-an-ounce gate. Why exactly I can’t tell you… its principal bullish factor, inflation, being vortually non-existent in today’s deflationary market.

That leaves the fear of reckless U.S. Congress wrecking the dollar with huge new debt loads… and of an Administration that seems dead-set on crippling U.S. economic competitiveness for decades to come.

Valid fears, indeed, fueled by every redistributionist soundbyte slopping out of Washington.

Silver, too, has been gaining steadily. Our Hot Stock Confidential silver mining play Coeur d’Alene Mines Corp. (NYSE: CDE) is up 23%, Silver Wheaton (NYSE:SLW) is up 18%, and — after a horrendous 40%-drop ofer our May recommendation — Hecla Mining Company (NYSE:HL) has clawed back to a gain over 2%.

(HSC Members who used the dip to buy, as we kept recommending in our weekly updates, have almost doubled their money since May.)

We think there’s plenty more short-term potential. But despite my bullish long-term view on silver, the high volatility in the precious metals markets makes me inclined to take profits in the double-digit range, rather than hang on for the heftier triple-digit gains I foresee in the long term.

Source: Midas touch: Rising Gold Prices Guide Coeur d’Alene Mines, Silver Wheaton, Hecla Mining to Strong Gains