Silver miners fall on Fed rate hike worries

First Majestic Silver

03/02/2023 16:31

** Silver miners fall, tracking a dip in the precious
metal's price
    ** Spot silver  XAG=  slips 4.1% after better-than-expected
growth in U.S. non-farm payrolls employment stoked fears of
further rate hikes
    ** U.S. miners Hecla Mining Co  HL.N  and Coeur Mining Inc
 CDE.N  shed 3.3% and 4.5%, respectively
    ** Canadian miners Wheaton Precious Metals Corp  WPM.TO ,
First Majestic Silver Corp  FR.TO , Pan American Silver Corp
 PAAS.TO  and Endeavour Silver Corp  EDR.TO  fall between
1.2%-4.5%
    ** ETFs: ProShares Ultra Silver  AGQ.P  slides 8.6%, while
abrdn Physical Silver Shares ETF  SIVR.P  and iShares Silver
Trust  SLV.P  both down 3.9%
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))