Silver miners fall after early gains as dollar firms

Shares of silver miners tumble after early gains on Friday, as U.S. dollar drifted higher against major currencies amid the prospect of interest rate cuts by the Federal Reserve next year GOL/

Spot silver XAG= falls 3.85% to $61.116 per ounce after hitting a new record high earlier in the day at $64.64/oz

Dollar index =USD, which measures the U.S. currency against six others, rose 0.1% to 98.39, recovering from a two-month low hit on Thursday

Hecla Mining HL.N slumps 4.7%, while Coeur Mining CDE.N slides 4.2%

Shares of Canadian miners Endeavour Silver EDR.TO slips 0.5%, Silvercorp Metals SVM.TO falls 5.3%

Abrdn Physical Silver Shares ETF SIVR.P and iShares Silver Trust SLV.P both down 3.8% and 3.6%, respectively