Pan American Silver Corp. shares fell nearly 4% pre-market as spot silver tumbled to $59.3 an ounce, its lowest since December 2025. Analyst Rashad Hajiyev expects a consolidation phase with limited downside before a gradual upside recovery.
On June 24, spot silver declined 3.7% to $59.3 an ounce, its weakest since December 2025, marking its sixth drop in seven sessions and sliding below $60 for the first time this year. Futures for August delivery fell 4.3% to $59.6 an ounce.
Shares of Pan American Silver Corp. tumbled nearly 4% in pre-market activity alongside similar declines at First Majestic and Hecla Mining, reflecting investor concerns over the metal's steep selloff.
Rashad Hajiyev projects a phase of consolidation with very limited downside for silver before resuming an upward trajectory, while Peter Schiff believes gold’s dip under $4,000 would be shallow, supporting broader precious metals sentiment.
iShares Silver Trust saw a shift to bullish sentiment on investor forums despite a more than 15% year-to-date drop, contrasting with SPDR Gold Shares’ near 7% decline.
