US Stock Market Move | Spot gold hits new high, Silvercorp Metals Inc. metal mining (SVM.US) closes up more than 10%

Silvercorp Metals Inc. (SVM.US) rose 10.36% on Thursday to $3.73. On the news front, the price of gold hit a new all-time high and briefly surpassed $2570 per ounce on Friday. Data shows that due to the latest economic data from the United States continuing to support the Federal Reserve's plan to begin a loose monetary policy in September, the price of gold continues to rise. At the time of writing, spot gold rose by about 0.3% to $2566.37 per ounce. At the same time, many institutions also continue to be optimistic about the prospects of gold. Recently, Ole Hansen, head of commodity strategy at Saxo Bank, stated that political risks, financial concerns, and potential changes in monetary policy, especially after the US presidential election, all contribute to the bullish outlook for gold as a hard asset. Hansen suggested that investors may continue to see gold as a hedge against economic and policy uncertainties. Public information shows that Silvercorp Metals Inc. mainly acquires, explores, develops, and produces silver, gold, lead-zinc, and other non-ferrous and precious metal mines, and has become one of China's main silver and lead-zinc producers. The strong prices of precious metals such as gold and silver are expected to continue to drive up the stock price of Silvercorp Metals Inc.