New York, Jan 26, 2026, 15:02 EST — Regular session
- Hycroft Mining shares slipped roughly 0.1% to $50.60, having peaked at $58.63 earlier in the session.
- Spot silver surged to a record $117.69 an ounce while gold climbed past $5,100 an ounce.
- Traders are focused on the Fed decision set for Jan. 28 and if metals continue attracting funds into high-beta miners.
Hycroft Mining Holding Corporation shares slipped 0.1% to $50.60 in afternoon trading Monday, following an early surge that saw the stock jump as high as 16% to $58.63. The stock kicked off the session at $54.00 and had turned over more than 8.3 million shares by mid-afternoon.
The whipsaw came after another surge in precious metals, with spot silver reaching an all-time high of $117.69 an ounce and last up roughly 10% at $113.46. Gold remained above $5,100. “Momentum is strong,” said UBS analyst Giovanni Staunovo, but he cautioned that prices this elevated could begin to curb industrial demand. (Reuters)
Timing is crucial for Hycroft, which remains in the development phase. A recent SEC filing reveals the company doesn’t anticipate earning revenue from gold and silver sales until mining and processing are back up and running, which will require more funding. As of Dec. 26, Hycroft reported measured and indicated mineral resources totaling 10.6 million ounces of gold and 360.7 million ounces of silver, plus inferred resources of 3.4 million ounces of gold and 96.1 million ounces of silver. (SEC)
The broader tape showed mixed results. The iShares Silver Trust jumped roughly 5.4%, with the Global X Silver Miners ETF gaining around 1.2%. On the downside, Hecla Mining dropped about 4%, Coeur Mining slipped 2%, and First Majestic Silver edged up 1.4%.
Resource figures often mislead fast-money traders. “Resources” refer to estimated mineral deposits underground—they’re not proven reserves and don’t ensure profitable extraction.
Silver and gold are swinging sharply, which means smaller players like Hycroft can behave almost like options. A small shift in the metal’s price can translate into a much bigger move for a stock that hasn’t yet generated steady operating cash flow.
The next key macro event arrives midweek. The Federal Reserve is widely expected to keep rates unchanged when its meeting wraps on Wednesday. Investors are also watching political tensions targeting the central bank and its leadership. (Reuters)
The risk is obvious. If silver prices drop — or if policymakers resist calls for looser monetary policy — Hycroft’s recent gains could vanish fast, bringing funding concerns back into sharp relief.
In the short term, traders are focused on silver’s ability to stay above the $100 mark and whether Hycroft can maintain its momentum following Monday’s intraday reversal.
The Fed will announce its policy decision on Jan. 28 at 2:00 p.m. ET, with Chair Jerome Powell’s press conference set for 2:30 p.m. ET. That timing is regaining importance for metals and related miners. (Federal Reserve)
