Silver ETFs drop over 3% as silver extends losses on rising Fed rate-hike bets; gold ETFs also fall
AI Market Summary
Silver-linked ETFs dropped over 3% as spot silver extended losses amid rising US Treasury yields, a firmer dollar, and higher implied odds of a near-term Fed rate hike after stronger producer inflation. Higher real rates typically pressure non-yielding metals, weighing on silver and, to a lesser extent, gold ETFs. A sharp Brent rally on geopolitical disruptions amplified inflation fears, reinforcing tighter-policy expectations and risk-off conditions.
Impact level
● Medium
Affected assets
NCSKSLV2USD/USDT-1.51%
AI Insight · NCSKSLV2USD/USDTAI Insight
▼ Bearish
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Silver extended its decline as rising U.S. Treasury yields and firmer expectations of a Federal Reserve rate increase pressured the metal, pushing silver ETFs down more than 3%. SBI Silver ETF fell 3.2% and ICICI Prudential Silver ETF slid 3.1%. Spot silver slipped 0.3% to $63.40 an ounce after plunging 5.5% in the prior session, while the probability of a rate hike rose to around 70%, according to Reuters. Gold ETFs also traded lower, and Brent crude climbed 6% on geopolitical conflict.
