US Stock Market Move | Gold prices surged 4% in a single day, surpassing the 4500 mark. Silvercorp Metals Inc. (SVM.US) saw its stock price rise by over 9%.

Overnight, U.S. stocks closed with significant gains in the precious metals sector, with Silvercorp Metals Inc. (SVM.US) rising 9.27% on Wednesday to $12.610, marking an increase of over 50% year-to-date. On the news front, gold prices soared on Wednesday, breaking through $4,500 per ounce to reach a near three-month high, spurred by the U.S. Treasury's expansion of debt buybacks, which boosted the bond market. The announcement of increased bond purchases led to declines in U.S. Treasury yields and the dollar, reducing the holding cost of gold and enhancing its appeal, directly catalyzing the rise in gold prices. Additionally, the total U.S. federal government debt has surpassed $40 trillion. The surge in U.S. debt has begun to prompt global central banks to diversify their reserve assets, gradually becoming significant buyers in the gold market. Recently, Canadian mining company Silvercorp Metals Inc. (SVM.US) announced the assay results of the first 29 drill holes from its Chaarat Kyzyl-Tash gold mine in Kyrgyzstan, with overall impressive results and outstanding core indicators. Furthermore, Silvercorp Metals Inc. also holds high-quality reserve assets such as the Condor gold and silver mine and the El Domo copper-gold mine in Ecuador. In the long term, the company will complete a significant transformation from a traditional cyclical silver enterprise to a dual focus on gold and silver, fully unlocking its long-term growth potential.