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Stock impact report

Silver Trades Near Record High on Tight Supply, Rate-Cut Hopes [Yahoo! Finance Canada]

U.S. Gold Corp. (USAU) 
US:NASDAQ Investor Relations: usgoldcorp.gold
(Bloomberg) -- Silver jumped more than 2% to a record high, with traders placing speculative bets given ongoing supply tightness and rising expectations for an interest-rate cut in the US. Gold was steady. Most Read from Bloomberg The white metal rose as high as $57.86 an ounce, before paring some gains. It has climbed for six consecutive days and doubled in value this year, outpacing a roughly 60% rally in gold. A record amount of the metal flowed into London in October to ease a historic squeeze in the world's biggest silver trading hub. This in turn has put other centers under pressure: inventories in warehouses linked to the Shanghai Futures Exchange recently hit their lowest in nearly a decade, bourse data shows, and the cost of borrowing the metal over one month remains elevated. “Shortages in the global market as a result of the recent squeeze in London are still being felt,” said Daniel Hynes, a commodity strategist from ANZ Group Holdings Ltd. “With gold taking a bre Show less Read more
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