United States Antimony Corp (NYSE:UAMY) shares are dropping on Wednesday, in step with a broader pullback across precious‑metals stocks. Tuesday’s gains have reversed as a stronger U.S. dollar and declining gold and metals prices weigh on the sector, even as tensions in the Middle East continue to escalate.
- United States Antimony Corporation stock is among today’s weakest performers. Why is UAMY stock falling?
Precious‑metals names are sliding as the Middle East conflict has unexpectedly strengthened the U.S. dollar, putting pressure on gold and other metals. According to Reuters, gold prices dipped on Wednesday as the dollar strengthened and renewed inflation concerns boosted expectations for higher interest rates.
The dollar index rose 0.5%, making dollar‑priced commodities more expensive for overseas buyers and dampening demand.
Safe‑Haven Demand Vs Rate‑Hike Fears
Peter Grant, vice president and senior metals strategist at Zaner Metals, told Reuters that the gold market is caught between safe‑haven buying driven by the war and concerns that interest rates may stay elevated for longer.
Even with intensifying conflict in the Middle East — normally a bullish catalyst — the stronger dollar and expectations of prolonged high rates are overpowering safe‑haven flows.
Silver dropped 4.1% to $84.82 per ounce, platinum fell 1.1% to $2,175.60 and palladium declined 1.5% to $1,630.84.
Conflict Intensifies, Yet Metals Fall
The selloff is striking given the worsening geopolitical backdrop. Iran launched strikes on U.S. bases across five countries, and a projectile hit a cargo ship in the Strait of Hormuz, forcing an evacuation. President Donald Trump threatened severe retaliation if Iran were to place naval mines in the strait.
Fresh U.S. inflation data added to the pressure. CPI rose 0.3% in February, matching expectations and coming in above January’s 0.2% increase, Reuters reported. Annual CPI rose 2.4%, also in line with forecasts.
UAMY Price Action: United States Antimony shares were down 6.50% at $10.50 at the time of publication on Wednesday, according to Benzinga Pro.
Image: Phawat/Shutterstock
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