First Majestic Silver Shares Surge 5% as Silver Tops $70 After U.S.-Iran Deal
AG•First Majestic Silver shares jumped over 5% overnight after spot silver prices surged nearly 4% above $70 and silver futures rose 3.9% following an interim U.S.-Iran peace agreement. Gold prices climbed 2.5% to $4,325.78, while retail sentiment on Stocktwits spiked 40% as concerns over inflation eased.
1. Market Reaction
First Majestic Silver shares rose over 5% after spot silver climbed nearly 4% above $70 and silver futures added 3.9%, while spot gold advanced 2.5% to reach $4,325.78 in overnight trading.
2. U.S.-Iran Peace Agreement Details
The interim peace deal ended the conflict and reopened the Strait of Hormuz, easing energy and inflation concerns, which contributed to lower Treasury yields and a weaker dollar that propelled demand for precious metals.
3. Retail Sentiment Uptick
Retail discussion on Stocktwits jumped about 40% in 24 hours, shifting sentiment from neutral to bullish as investors anticipate further gains in silver and gold prices.
