BUZZ-Silver miners fall as oil rally brings Fed rate hikes into focus
Endeavor Group Holdings Inc EDR | 0.00 | |
Hecla Mining Company HL | 0.00 | |
Coeur Mining, Inc. CDE | 0.00 | |
Wheaton Precious Metals Corp WPM | 0.00 | |
Silvercorp Metals Inc. SVM | 0.00 |
** U.S.-listed shares of silver miners fall premarket, tracking a loss in prices of the metal GOL/
** Spot silver XAG= slid 1.8% to $58.6591 per ounce
** Prices fall as the intensifying Middle East conflict drives up oil prices and supports investor concerns that inflationary pressures could push the U.S. Federal Reserve to raise interest rates later this year
** Hecla Mining HL.N and Coeur Mining CDE.N down 2.3% and 2.2%, respectively
** Canadian miners: Endeavour Silver EDR.TO, EXK.N dips 3%; Wheaton Precious Metals WPM.TO, WPM.N falls ~2% and Silvercorp Metals SVM.TO, SVM.N down 1%
** Abrdn Physical Silver Shares ETF SIVR.P and iShares Silver Trust SLV.P inch down 2.2% each