Key insights
- Silver miners rose in premarket trading due to a weaker dollar and positive comments regarding the Iran nuclear deal, boosting silver prices. This had a slightly positive impact on US equities, specifically for listed silver mining companies and related ETFs. However, the overall market impact is limited.
Investing.com -- U.S.-listed shares of silver miners rose in premarket trading Friday, following gains in the price of the white metal.
Spot silver last traded up 3.8% to $81.41 per ounce. Prices increased due to a softer dollar and comments from Iran’s foreign minister that passage through the Strait of Hormuz remains open during the ceasefire.
Shares of miners Hecla (NYSE:HL) and Coeur (NYSE:CDE) rose approximately 4% and 3.6%, respectively.
Canadian miners Endeavour Silver (NYSE:EXK) (TSX:EDR) and Silvercorp Metals (NYSE:SVM) (TSX:SVM) advanced 3.7% and approximately 2%, respectively.
The Abrdn Physical Silver Shares ETF (ARCA:SIVR) and iShares Silver Trust (ARCA:SLV) both gained 3.4%.
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