GATO - Silver futures miners in sharp slide as retail frenzy fizzles

Silver futures (XAGUSD:CUR) are sinking, as the buying spree among small investors that lifted prices near eight-year highs appears to fizzle out following a margin hike by the Chicago Mercantile Exchange.March Comex silver -8.1% to $27.03/oz., after jumping 7.3% yesterday to its highest since February 2013 in the retail-driven buying frenzy in heavily shorted assets.The iShares Silver Trust ETF ([[SIL]] -9.8%) has surrendered nearly all of yesterday's 7.1% gain."The CME move is taking some froth off the market," StoneX analyst Rhona O'Connell says, adding that the correction was inevitable and silver is still overbought in technical terms, as recent moves have not been driven by fundamentals.Silver producers also are seeing sharp declines: [[ASM]] -26.7%, [[AG]] -22.8%, [[EXK]] -19.8%, [[AUMN]] -19.7%, [[HL]] -17.1%, [[CDE]] -16.7%, [[FSM]] -16%, [[SVM]] -14.3%, [[GATO]] -13.2%, [[PAAS]] -12.1%, [[MAG]] -10.9%, [[SILV]] -7.2%, [[WPM]] -5.3%.April gold (XAUUSD:CUR) also slips, -1.6% to $1,834.60/oz., and are now trading below

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Silver futures, miners in sharp slide as retail frenzy fizzles