Silver Miners Fall as Oil Prices Surge

US-listed shares of silver miners Hecla Mining and Coeur Mining are falling in premarket trading, mirroring weakness in precious metals. The decline is linked to higher oil prices, which have risen more than 2% on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict.

The spot price of silver has dropped 4.7% to $61.25 per ounce, amid inflation fears and expectations of elevated interest rates. This has bolstered the case for higher interest rates, as seen in the market's reaction to oil prices.

Canadian miners Endeavour Silver and Silvercorp Metals are also experiencing a downturn, with their shares slipping 5.4% and 5.7%, respectively. The Physical Silver Shares ETF and iShares Silver Trust have fallen approximately 5%.