US Stock Market Move | Precious metal sector showing strong gains, Southern Copper Corporation (SCCO.US) up over 7%

On Tuesday, the precious metals sector showed strong gains, with Southern Copper Corporation (SCCO.US) rising by over 7%, Freeport-McMoRan Inc. (FCX.US) and First Majestic Silver (AG.US) rising by over 5%, Pan American Silver Corp. (PAAS.US) rising by over 4%, and Newmont Mining Corporation (NEM.US) rising by over 3%. In terms of news, gold and silver made a strong rebound, with spot gold surging by over 5% to surpass $4900 and spot silver rising by over 12% to $88.76. A recent report released by UBS Group AG's global research analyst Joni Tevis indicated that while gold faces short-term price pressure risks, the precious metals market still has good long-term prospects that investors should pay attention to. Tevis holds a more optimistic view on the long-term prospects of gold. She believes that the uncertainty in the global financial system and concerns about future economic trends will continue to drive growth in gold demand. Especially as the Federal Reserve's policy changes and international political risks continue to escalate, the advantages of gold as a safe haven asset will become more pronounced. Therefore, despite some short-term risks, gold prices still have significant room for upside in the long term.