Shares of gold and silver mining companies retreated in Monday's premarket activity, along with the prices of the precious metals.

U.S. Gold (USAU) was down 5.5% pre-bell, Hecla Mining (HL) was 7.8% lower, and Coeur Mining (CDE) declined by 8%.

Pan American Silver (PAAS) and Newmont (NEM) were down 7% each.

First Majestic Silver (AG) was down 7.5%, Barrick Mining (B) lost 6%, Wheaton Precious Metals (WPM) shed 5.6%, and Agnico Eagle Mines (AEM) dropped 5.4%.

Gold futures were down 6.9%, while silver tumbled 8.2%.