Silver miners fall after Trump's tariffs raise demand concerns

Wheaton Precious Metals

04/04/2025 16:06

** Shares of silver miners fall, tracking a sharp decline in prices of the metal

** Spot silver XAG= slips 7.1% to $29.56 an ounce, headed for its worst week since September 2020

** Prices fall as concerns about demand for the industrial precious metal dominated sentiment due to recession fears stemming from U.S. President Donald Trump's slew of tariffs

** Coeur Mining CDE.N and Hecla Mining HL.N down 10.8% and 11.5%, respectively

** Canadian miners Wheaton Precious Metals WPM.TO down 6.2%, MAG Silver MAG.TO slips 9.8%, Fortuna Mining FVI.TO down 11.1% and Endeavour Silver EDR.TO loses 12.3%

** ETFs Abrdn Physical Silver SIVR.P and iShares Silver Trust SLV.P both down 5.9%; Global X Silver Miners SIL.P loses 9.8% and ProShares Ultra Silver AGQ.P drops 11.7%

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))