K:CC - Miners push higher as metals prices rally after Fed's 'meek' rate hike

Precious metals miners are in rally mode as precious metals and commodity prices surge, after Russia said reports of progress in negotiations with Ukraine are "wrong," and the dollar drops. April Comex gold (XAUUSD:CUR) +2.1% at $1,949.60/oz, bouncing from four straight daily declines, and May silver (XAGUSD:CUR) +4.1% at $25.74/oz, a day after losing 1.8%. Among major movers in the mining sector: NYSE:NGD +9.8%, IAG +8.5%, AG +6.6%, SVM +6.6%, SSRM +6.5%, GORO +6%, PAAS +4.9%, AU +4.6%, HMY +4.5%, AUY +4.3%, BTG +4.3%, KGC +4.1%, AGI +3.8%, AEM +3.4%, GOLD +3.4%. ETFs: NYSEARCA:GLD, IAU, NUGT, PHYS, NYSEARCA:GDX, SLV, SIL, SIVR, PSLV The U.S. Federal Reserve's 25-basis point rate hike was in line with expectations and came against the backdrop of surging prices, so it did not hurt gold's appeal as an inflation hedge. The Fed's "meek" response to soaring inflation helped gold, GoldSilver Central's Brian Lan tells Reuters. "People

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Miners push higher as metals prices rally after Fed's 'meek' rate hike