Stock Track | Silvercorp Metals Soars 5.19% Intraday as Weaker Dollar Boosts Silver Prices
Stock Track
Feb 09
Silvercorp Metals Inc's stock soared 5.19% during intraday trading on Monday, reflecting strong investor interest in the silver mining sector.
The surge in Silvercorp's share price aligns with broader gains in silver miners, driven by a weaker U.S. dollar that has boosted precious metal prices. Spot silver rose 4.3% to $81.32 per ounce, supported by dollar weakness as investors await key economic data for clues on the Federal Reserve's interest rate path.
Other silver mining companies including Hecla Mining, Coeur Mining, and Endeavour Silver also saw premarket gains, indicating sector-wide strength fueled by macroeconomic factors affecting commodity prices.
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