Gold and silver stocks are experiencing a notable breakout as precious metal prices approach new record highs. Silver is beginning to outperform gold, with several silver miners such as Hecla Mining Company (HL) and Pan American Silver Corp (PAAS) showing substantial gains of up to 20% and 7%, respectively, in intraday trading. Smaller silver miners have also attracted significant investor interest, supported by strong technical setups and bullish market fundamentals. Gold stocks, including those of MGG.V (Minaurum Gold), TGC.V (Toogood Gold), SRAN.C (Sranan Gold), and PRB.T (Probe Gold), are benefiting from high demand and positive news flows, with some analysts highlighting potential for mergers and acquisitions in the sector. Market observers note that while elevated US Treasury yields and low stock-market volatility could pose challenges for gold, the metal is positioned to benefit if yields decline and market risk increases. Overall, the precious metals sector is leveraging rising metal prices to reward investors, with upside potential seen in both gold and silver equities.