Hecla Mining (HL) Jumps to New High as Silver, Gold Climbs to Records

Core Insights - Hecla Mining Company (NYSE:HL) experienced significant stock performance, reaching an all-time high of $13.36, closing up 11.63% at $13.34, driven by a rally in silver and gold prices [1][2] Group 1: Market Performance - Hecla Mining's stock surged as investor sentiment improved due to expectations of interest rate cuts, which typically benefit mining firms [2][3] - Silver prices increased by 3.2% to $49.39, with a record high of $49.57, while gold prices rose 1.7% to $4,050, surpassing the $4,000 mark [2] Group 2: Economic Factors - The upcoming Federal Open Market Committee (FOMC) meeting on October 28 and 29 is anticipated to result in interest rate cuts, which would weaken the US dollar and make precious metals cheaper for foreign buyers [3] - The last FOMC meeting of the year is scheduled for December 9 and 10, where another rate cut is expected [3] Group 3: Price Forecasts - HSBC raised its average silver price forecast to $38.56 per ounce from $35.14, with expectations for silver prices to reach $44.50 in 2026 and $40 in 2027 [4]