Silver prices were down 2.3% to $15.77 an ounce at 2:24 p.m., according to CNBC. Gold futures also dropped 1.17% to $1,181.30.
A strong dollar has kept gold prices down for the last several weeks, and silver prices have suffered similarly. Gold hits its 2014 high of $1,392.60 on March 17 but has traded below $1,200 an ounce for much of the past several weeks.
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"The overall environment is very negative for gold," Phil Streible, a senior commodity broker at R.J. O'Brien & Associates in Chicago, told Bloomberg last week. "The market will remain volatile as trading will be very thin for the next two weeks."
Separately, TheStreet Ratings team rates HECLA MINING CO as a "sell" with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HECLA MINING CO (HL) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."