US Stock Market News | Rate Cut Expectations Boost Metal Prices, Silvercorp Metals Rises Over 5%
Silvercorp Met rose more than 5% in Wednesday's US stock market close. With the expectation of interest rate cuts heating up, bulk metal prices are expected to receive a boost. In Wednesday's US session, COMEX gold futures rose by 1.37% to $2365.4 per ounce; COMEX silver futures rose by 3.87% to $30.805 per ounce. LME metal futures closed higher across the board, with copper, aluminum, zinc, lead, nickel, tin, and cobalt futures all posting gains
According to Zhitong Finance, Silvercorp Metals (SVM.US) saw a more than 5% increase in US stocks on Wednesday. On the news front, with poor overnight US economic data leading to expectations of a rate cut, bulk metal prices are expected to benefit. During Wednesday's US session, COMEX gold futures rose by 1.37% to $2365.4 per ounce; COMEX silver futures rose by 3.87% to $30.805 per ounce.
Furthermore, LME metal futures closed higher across the board, with LME copper futures up $196 to $9868 per tonne. LME aluminum futures rose by $26 to $2548 per tonne. LME zinc futures rose by $68 to $2991 per tonne. LME lead futures rose by $20 to $2222 per tonne. LME nickel futures rose by $319 to $17323 per tonne. LME tin futures rose by $441 to $33363 per tonne. LME cobalt futures remained unchanged at $27150 per tonne