Silver miners rise on long-term demand

MAG Silver

18/04/2024 18:42

** Silver miners rise, tracking prices of the precious metal
    ** Spot silver  XAG=  up 0.3% at $28.31 per ounce GOL/ 
    ** "The silver shortage narrative is gaining attention, with
demand consistently outpacing new supply. This imbalance could
lead to a significant price adjustment in the future" - 
Alexander Zumpfe, precious metals trader at Heraeus Metals
    ** "Long-term trends in the silver market remain bullish,
and while short-term price movements can be volatile and
influenced by futures trading," says Zumpfe
    ** Hecla Mining  HL.N  and Coeur Mining  CDE.N  jump 1% and
1.5%, respectively
    ** Canadian miners MAG Silver  MAG.TO , Pan American Silver
 PAAS.TO  and First Majestic Silver  FR.TO  rise between 1.3%
and 0.7%
        ** SilverCrest Metals  SIL.TO  second highest gainer in
S&P/TSX Composite Index  .GSPTSE 

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))