Silver miners climb as SVB fallout boosts precious metal's appeal

First Majestic Silver

13/03/2023 14:12

(Updates)
    ** U.S-listed shares of silver miners rise, tracking the
precious metal's prices 
    ** Silver  XAG=  up 5% at $21.57 per ounce; bets are that
the Federal Reserve may now have to tone down its rate hikes as
investors seek cover from uncertainty triggered by the collapse
of Silicon Valley Bank  SIVB.O 
    ** Hecla Mining Co  HL.N , Pan America Silver Corp  PAAS.TO 
 PAAS.O , Endeavour Silver Corp  EDR.TO   EXK.N , Coeur Mining
Inc  CDE.N , Fort Silver Mines Inc  FVI.TO   FSM.N  and First
Majestic Silver Corp  FR.TO   AG.N  climb between 5.1% and 10.8%
    ** Abrdn Physical Palladium Shares ETF  PALL.P  and Global X
Silver Miners ETF  SIL.P  up 5.1% and 5.9%, respectively
    ** Platinum  XPT=  up 3.1% and palladium  XPD=  climbs 3.7%
while spot gold  XAU=  up 1.6%
    ** Gold miners also rise on lower rate hike expectations
after SVB rout


 (Reporting by Arunima Kumar and Arshreet Singh in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))