Silver miners take a hit as the metal drops 2% in premarket trading
Silver bars, a symbol of industrial demand and global market volatility, appear in a photo illustration in Brussels, Belgium, on December 24, 2025. Jonathan Raa | Nurphoto | Getty Images
Silver and gold prices took a nosedive in early premarket trading on Tuesday, as investors awaited delayed economic data and geopolitical tensions remained subdued during the holiday-shortened week. Spot silver was last seen down 2% at around $74.85 per ounce, while silver futures fell 4% to $74.70 per ounce. Hecla Mining, the owner of Alaska's Green Creek Mine, one of the world's largest silver mines, saw a 3% decline before the market opened. Endeavour Silver shed 3.5%, First Majestic Silver was down nearly 4%, Coeur Mining lost nearly 3.4%, Teck Resources and Silvercorp Metals were roughly 3% lower, and Wheaton Precious Metals was down over 2%.
Despite the geopolitical tensions resurfacing in the Middle East, Deutsche Bank analysts noted that silver was trading $7 below its real adjusted price in 1790 after prices fell in the morning. Meanwhile, spot gold was down over 1% at $4,931 per ounce, and gold futures lost nearly 2% to $4,952 per ounce.
Silver ETFs, including ProShares Ultra Silver, were down 7% in premarket, while iShares Silver Trust and ABRDN physical silver fell just over 3%, according to FactSet data.
Silver prices have experienced dramatic swings in the past. In late January, gold and silver prices tumbled as investors reacted to news that President Donald Trump had nominated Kevin Warsh to lead the Federal Reserve, leading to a stronger U.S. dollar. Silver futures plunged 30% at the time, marking their worst day since March 1980. However, the sell-off in precious metals was short-lived, with gold and silver rebounding in early February, as analysts noted that thematic drivers remained intact.
In other news, Australian global mining company BHP sealed a silver deal with Wheaton Precious Metals. The mining giant said the long-term silver streaming agreement would see BHP receive an upfront payment of $4.3 billion in exchange for delivering silver produced at its Antemina mine.
