BUZZ-Silver miners gain as precious metal soars to new peak

Reuters12-17
BUZZ-Silver miners gain as precious metal soars to new peak

Updates

** Shares of silver miners rise, tracking prices of the white metal GOL/

** Spot silver XAG= rises 2.5% to $65.39 per ounce, after touching an all-time high of $66.52 earlier in the session, extending a rally driven by tight supply, strong industrial demand and rising speculative interest

** "Silver has become an object of speculation within the options markets and fundamentally I think it's based on some clear views that the demand outlook remains very positive," says independent analyst Ross Norman

** Hecla Mining HL.N up ~3% and Coeur Mining CDE.N up 2%

** Canadian miners: Endeavour Silver EDR.TO up 4%, Silvercorp Metals SVM.TO up 1.2%

** Abrdn Physical Silver Shares ETF SIVR.P and iShares Silver Trust ETF SLV.P both up ~3%

(Reporting by Utkarsh Tushar Hathi and Dharna Bafna in Bengaluru)

((utkarshtushar.hathi@thomsonreuters.com))

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