Silver Prices Rise as Weaker Dollar Triggers Miner Gains

Silver prices have risen by 2.9% to $67.26 per ounce as the US dollar weakens, leading to a surge in shares of silver miners.

The increase is partly due to remarks made by Federal Reserve Governor Christopher Waller, who stated that recent progress on inflation could justify keeping interest rates steady.

This has led traders to scale back their expectations of a rate hike in September, further contributing to the rise in silver prices and shares of related companies.

Hecla Mining Co. (GOL) is up 1.6%, while Coeur Mining Inc. rises around 1%. Canadian miners Endeavour Silver Corp. and Silvercorp Metals Inc. are also gaining ground, with shares rising by 3% and 1% respectively.