Silver Mining Stocks Surge as Spot Silver Hits 13-Year High
- Silver prices surged to a 13-year high near $36 per ounce on Friday, boosting shares of major silver mining companies.
- The increase was driven by earlier trade disputes between the US and China, alongside a declining US dollar, which boosted silverโs appeal as both a precious metal and an industrial resource.
- Additional factors included stronger European economic data and US employment gains, while a Thursday call between Presidents Trump and Xi resumed trade talks.
- Silver prices posted a weekly gain of 9%, with EndeavourSilver shares rising 8% and First Majestic Silver up 7% on June 4.
- This price strength suggests silver could continue rising due to its dual role as an industrial commodity and safe-haven asset amid ongoing macroeconomic uncertainty.
12 Articles
12 Articles
Silverโs Surge is No FlukeโHereโs the Strange Ratio Driving It
Silver just hit a 13-year high, breaking above a key resistance level that could ignite a major bull run. Some metals analysts now say a rally to $40 isnโt a long shot, but a matter of time. So, are the odds finally shifting in favor of the bulls? And, more importantly, is now the time to capitalize on silverโs breakout? To answer, letโs break down the key technical levels and explore the fundamental factors that may (or may not) fuel silverโs nโฆ
Gold prices rise on Fed rate cut hopes; silver hits 13-year high - Times Kuwait
Gold prices climbed on Friday, setting the stage for a strong weekly performance, as weaker-than-expected U.S. labor data fueled optimism about a potential Federal Reserve interest rate cut. Meanwhile, silver prices surged to their highest level in over 13 years. As of 08:54 GMT, spot gold rose 0.4% to $3,367.45 per ounce, marking a weekly gain of 2.4%. U.S. gold futures also increased 0.5% to $3,390.70. โThe disappointing jobless claims data, wโฆ
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