London-listed mining stocks opened higher on Wednesday as precious and base metal prices advanced in early trade, supported by dip-buying interest and thin liquidity conditions.
Gold prices rebounded above $4,900 per ounce, with New York futures climbing 0.8% to $4,945.60 a troy ounce after a two-day slide. The recent weakness had come amid subdued trading volumes due to the Lunar New Year holiday across Asia, which kept several key markets closed. Silver futures also gained momentum, rising 3% to $75.78 an ounce.
Base metals followed suit, with London Metal Exchange (LME) three-month copper futures rising 0.6% to $12,700.50 per metric ton, reflecting broader strength across the metals complex.
The uptick in commodity prices lifted major miners on the FTSE index. Glencore surged over 3% after reporting strong full-year earnings, while Anglo American rose nearly 2%.
Precious metal producers including Hochschild Mining, Fresnillo, and Endeavour Mining also traded around 0.4% higher, tracking gains in gold and silver prices.
The rally comes as investors reposition in metals amid evolving global macroeconomic cues and renewed interest in safe-haven assets.