Hycroft Mining Holding Corporation (NASDAQ:HYMC) shares climbed Monday as silver extended a historic rally to record highs, benefiting the Nevada-based gold and silver developer.
Silver jumped more than 5% to above $108 per ounce on Monday, reaching all-time highs on strong safe-haven and investment demand, coupled with prolonged tightness in the physical market.
Geopolitical Tensions And Commodity Supercycle
Markets have been rattled by the Trump administration’s abrupt threats to impose heavy tariffs on European allies and Canada, alongside renewed geopolitical tensions over Greenland.
“The latest catalyst is effectively this crisis of confidence in the U.S. administration and U.S. assets” Kyle Rodda, a senior market analyst at Capital.com, told Reuters.
According to Benzinga, the Bloomberg Commodity Index posted its strongest weekly gain since February 2022, jumping 5.3%. Over the past year, silver has been up 260%, while gold has climbed 85%.
“Silver has also been boosted by a historic short squeeze and strong retail buying. At the same time, industrial demand – particularly from solar, electrification, and grid infrastructure investment – has tightened the physical market at a time when mine supply growth remains limited,” said Ewa Manthey, commodities strategist at ING Group.
Hycroft’s Leveraged Exposure
Hycroft controls one of the world’s larger gold-silver deposits in Nevada through its roughly 64,000-acre Hycroft Mine. The stock has surged more than 2,400% over the past year from a 52-week low just above $2.
HYMC Price Action: Hycroft Mining Holding Corporation shares traded at $54.02, up $3.32 or 6.55% at the time of publication on Monday, according to data from Benzinga Pro.
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