U.S. gold and silver miners rise after Trump cancels Iran strikes

Investing.com -- Shares of major U.S.-listed gold and silver mining companies traded higher on Thursday after President Donald Trump cancelled planned military strikes against Iran.

Newmont rose 4.2%, while Barrick Mining added 4.4% and Gold Fields gained 5.7%. Coeur Mining climbed 5.5%, Hecla Mining advanced 3.7%, and Endeavour Silver increased 6.2%.

Trump on Thursday reversed course on fresh attacks he had promised against Iran, calling off strikes and bombings scheduled for the evening. The president stated that "discussions and final points" on a peace deal with Iran had been "approved by all parties involved."

Trump had earlier said the U.S. would hit Iran "very hard tonight" and would be looking to soon take control of Kharg Island, one of Tehran's key oil and gas infrastructure hubs. Other oil infrastructure points would also be hit, and the U.S. would "assume total control of their Oil and Gas Markets," he added.

"Based on the fact that discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved, I have, as President of the United States of America, cancelled the scheduled strikes and bombings against Iran this evening," he said.

"Discussions and final points have been, in both concept and great detail, approved by all parties involved, including the United States, Israel, Saudi Arabia, UAE, Qatar, Turkey, Pakistan, Bahrain, Kuwait, Jordan, Egypt, and others. The Naval Blockade will remain in full force and effect until this Transaction is finalized — Time and place of the signing to be announced shortly," the president added.

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