Silver for December delivery retreated 1.99% to $18.69 per ounce on the COMEX.
On Friday, Federal Reserve policymakers are scheduled to meet for their annual Economic Policy Symposium in Jackson Hole, WY.
Fed Chairwoman Janet Yellen will speak to the group, and analysts expect that her speech will indicate whether the Fed will raise interest rates later this year, MarketWatch reports.
Commodities like silver and gold fare poorly when interest rates are raised as investors seek high-yield assets.
Additionally, the dollar strengthened this afternoon, making precious metals like silver more expensive and therefore less attractive to foreign investors.
Silver Wheaton, based in Vancouver, is a gold and silver mining company.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.
You can view the full analysis from the report here: SLW