Hecla Mining Company (NYSE:HL) reached a new all-time high of $13.36 as silver and gold prices surged to record levels. Investor optimism was fueled by expectations of interest rate cuts, with silver up 3.2% to $49.39 and gold surpassing $4,000. The Federal Reserve’s next FOMC meeting on October 28 and 29 may bring more rate cuts.

Lower interest rates typically benefit mining companies like Hecla Mining, as they weaken the US dollar, making precious metals more affordable for foreign buyers. The upcoming FOMC meeting in December is also anticipated to result in a rate cut. HSBC raised its silver price forecast due to increased gold prices and rising investor demand, projecting silver prices to reach $44.50 by 2026.

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Read more at Yahoo Finance: Hecla Mining (HL) Jumps to New High as Silver, Gold Climbs to Records