Silver miners plunge on Fed hike fears
GLD•Silver miners fell as spot silver dropped 5.3% to $49.63 an ounce, with rising crude oil prices and persistent inflation worries reinforcing expectations of U.S. interest rate hikes.
1. Miners track silver lower
Hecla Mining fell 5.8% and Coeur Mining lost about 6%. Canadian miners Endeavour Silver slid 6.2%, while Silvercorp Metals fell 5.7%. Physical Silver Shares ETF and iShares Silver Trust each dropped 5.2%.
