Movement Alert｜Pan American Silver Falls 5.19% in Regular Trading, Hotter US CPI Lifts Rate-Hike Expectations and Pressures Precious Metals

Market Focus10-14 22:05

On October 14, Pan American Silver fell 5.19% in Regular Trading, trading at $42.23 per share, with turnover of $28.04 million.

The move coincided with broad weakness in precious-metals miners after US September CPI came in above expectations, reinforcing expectations for further Federal Reserve tightening, strengthening the dollar, and pushing gold and silver prices lower.

Market data showed September CPI rose 3.7% year over year versus a 3.6% expectation, while monthly CPI increased 0.6%. Rate-pricing indicated only a 4.3% probability of no change by December, versus 55.3% odds of cumulative 25 basis points of hikes and 40.4% odds of cumulative 50 basis points. Spot silver fell as much as 4% and spot gold dropped 1.9%, while gold-sector peers also weakened, including Coeur Mining down 5.9%, Agnico Eagle Mines down 5.12%, Barrick Mining Corporation down 4.16%, Newmont Mining down 3.72%, and ANGLOGOLD ASHANTI PLC down 3.68%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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