Open account

Silver Logs Biggest Daily Gain Since February, Propelling Miners with Silvercorp's 76% YTD Lead

Silver prices surged to their strongest one-day gain since February on May 12, driven by technical buy signals that attracted hedge funds, leveraged investors, and trend-followers, amplifying the rally. This built on May 11's momentum where the Sprott Silver Miners ETF (SLVR) climbed 5.5%, powered by standout performers Hycroft Mining (+15.7%) and Avino Silver & Gold Mines (+9.5%). Year-to-date leaders like Silvercorp Metals (+76%), First Majestic (+41%), and Aya Gold & Silver (+38%) highlighted the sector's strength, with leveraged ETFs such as AGQ soaring 14% intraday and SLV up 6.8%.

Category

Silver

Sentiment

Mixed

Event

Price movement

Reading time

1 min