Stock Track | ProShares Ultra Silver Soars 8.47% Intraday on Silver Rebound and Geopolitical Tensions

Stock Track02-06 22:55

The ProShares Ultra Silver ETF (AGQ) surged 8.47% during intraday trading on Friday, mirroring a sharp rebound in the underlying silver market.

The move follows a volatile period for precious metals, with spot silver staging a V-shaped recovery to rise above $70 per ounce after earlier steep declines. Analysts point to renewed geopolitical tensions, particularly warnings from Iran regarding U.S. military bases in the Middle East, as a key factor supporting safe-haven demand for metals.

Concurrently, market commentary highlighted a broader precious metals recovery from recent lows, driven by buying at lower price levels. A bullish long-term outlook for silver, underpinned by fiat currency hedging demand and positive analyst sentiment, further contributed to the positive momentum driving the ETF's significant gain.

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Comments

  • Guavaxf3006
    02-07 09:00
    Guavaxf3006
    AGQ seems to move much greater than SLV and ASLV. Upwards or downwards. It's probably because it is traded with a multiplying formula, quite like SQQQ or TQQQ. Which also means it bears greater risks and rewards.  This instrument is not for the faint hearted b it to those with more experience AND resources, this can offer much greater profits too.  However, you must also not be holding this for too long a period and don't be too greedy as well.
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