Silver miners fall as US inflation data boosts Fed hike bets
GLD•Silver miners fell as spot silver dropped 4.1% to $59.96 an ounce, extending losses for a third session after stronger-than-expected US inflation boosted bets on a Federal Reserve rate hike this month. Hecla Mining fell 2.7% and Coeur Mining dropped 3%.
1. Miners track silver lower
Shares of silver miners fell as spot silver declined 4.1% to $59.96 an ounce, extending losses for a third straight session. Stronger-than-expected US inflation data increased bets on a Federal Reserve rate hike this month. Hecla Mining fell 2.7% and Coeur Mining dropped 3%; Physical Silver Shares ETF and iShares Silver Trust each fell 3.6%.
