Hycroft Mining Holding Corp ( HYMC ) shares are moving higher Tuesday morning as precious metals rebound and geopolitical headlines shift market sentiment.

Despite today’s gains, the stock remains highly volatile, having fallen more than 45% over the past month amid fluctuations in metal prices and persistent geopolitical uncertainty.

Gold, Silver Prices Rebound

Gold prices rose toward $4,600 per ounce on Tuesday as oil prices eased. Despite the daily bounce, gold remains poised for a 13% drop in March. This represents its worst monthly performance since October 2008, according to Trading Economics.

As a pre-production miner, Hycroft’s valuation remains highly sensitive to spot prices.

Geopolitical Tensions

The Middle East conflict has entered its fifth week. Iran has effectively shut off the Strait of Hormuz.

However, President Donald Trump on Monday hinted at ending the military campaign against Iran even if the Strait of Hormuz remains largely closed, according to the Wall Street Journal.

This shift comes as markets price a 97.4% likelihood that the Federal Reserve will leave interest rates unchanged in April.

Short Interest Spike

Short interest in HYMC recently increased from 6.80 million to 7.54 million shares. This represents 12.5% of the company’s public float. Given the average daily volume of 4.09 million shares, it would take shorts 1.84 days to cover their positions.

Technical Analysis

HYMC is trading 17.3% below its 20-day SMA and 9.3% above its 100-day SMA, a setup that says the short-term trend is still under pressure even as the longer-term uptrend remains intact. Shares are up 840.43% over the past 12 months, and the stock is positioned closer to its 52-week highs than lows despite the recent cooling from the $58.73 peak.

RSI is at 40.52, which sits in neutral territory but leans toward weaker momentum versus a true “reset” near 50. Meanwhile, MACD is at -2.5968 and below its signal line at -1.6987, keeping bearish pressure in place as the histogram remains negative (-0.8980). The combination of RSI in the 30–50 range and a bearish MACD suggests mixed momentum.

HYMC Stock Price Activity: Hycroft Mining Holding ( HYMC ) shares were up 5.02% at $32.00 during premarket trading on Tuesday, according to Benzinga Pro data.