Silver, palladium miners and ETFs jump in precious metals price rally
08/11/2022 16:41
** Silver miners and ETFs climb, tracking a near 4% jump in
spot silver XAG= , while gold prices XAU= rise above the key
$1,700 level GOL/
** Dollar index .DXY falls 0.5% to a near two-week low
against its rivals while U.S. yields US10YT=RR also inched
lower, making precious metals more appealing for other currency
holders USD/
** ProShares Ultra Silver AGQ.P soars 7.4%, abrdn Physical
Silver Shares SIVR.P 3.7%, and iShares Silver Trust SLV.P
3.6%
** Couer Mining CDE.N and U.S. shares of Wheaton Precious
Metals WPM.N gain 5.9% and 5.6%, respectively
** Abrdn Physical Palladium Shares PALL.P , Sprott Physical
Platinum and Palladium Trust SPPP.P , and Abrdn Physical
Precious Metals Basket Shares GLTR.P add 1.5%-2.7%
** Palladium One Mining PDM.V climbs 3.9%
** "There appears to have been a big risk-on move which has
powered stocks higher and sent the dollar lower on the day,
lifting precious metals in turn" - OANDA analyst Craig Erlam
** Shares of gold miners also rise
(Reporting by Ruhi Soni in Bengaluru)
((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))