Silver miners fall as oil rally brings Fed rate hikes into focus
SLV•Mining stocks and silver funds decline
Hecla Mining HL.N and Coeur Mining CDE.N were down 2.3% and 2.2%, respectively.
Canadian miners included Endeavour Silver EDR.TO, EXK.N down 3%; Wheaton Precious Metals WPM.TO, WPM.N down about 2%; and Silvercorp Metals SVM.TO, SVM.N down 1%.
Abrdn Physical Silver Shares ETF SIVR.P and iShares Silver Trust SLV.P each edged down 2.2%.
Silver miners and silver ETFs fall premarket
U.S.-listed shares of silver miners fell premarket, tracking a loss in prices of the metal.
Spot silver slid 1.8% to $58.6591 per ounce.
Oil rally and inflation concerns pressure metal prices
Prices fell as the intensifying Middle East conflict drove up oil prices and supported investor concerns that inflationary pressures could push the U.S. Federal Reserve to raise interest rates later this year.
