Silver miners rise on prospects of Fed rate hike pause

Pan American Silver

08/06/2023 15:23

** Silver miners rise in early trading, tracking higher
prices of the precious metal
    ** Spot silver  XAG=  up 3.3% at $24.23/ounce after data
showed U.S. weekly jobless claims surged last week, cementing
expectations that the Federal Reserve will pause its interest
rate hiking cycle
    ** U.S. miners Hecla Mining  HL.N  and Coeur Mining  CDE.N 
rise 2.4% and 3.5%, respectively 
    ** Canadian miners Endeavour Silver  EDR.TO , Fortuna Silver
Mines  FVI.TO , Pan American Silver  PAAS.TO  and First Majestic
Silver  FR.TO  gain between 1.7% and 2.9%
    ** ETFs abrdn Physical Silver Shares ETF  SIVR.P  and
iShares Silver Trust  SLV.P  up 3.3% each

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))