The iShares Silver Trust (SLV) surged 5.72% during intraday trading on Tuesday, reflecting a strong rebound in silver prices after a recent sharp decline. This movement aligns with broader market trends where silver has been volatile due to tight physical supply and speculative trading.
Analysts attribute the rebound to a combination of factors, including profit-taking by traders and renewed investor interest in silver as a hedge against economic uncertainty. The metal's industrial demand, particularly from sectors like solar energy and electric vehicles, continues to support its price. Additionally, comments from high-profile figures like Elon Musk about Chinese export controls on silver have added to the market's volatility.
Despite these fluctuations, the overall outlook for silver remains positive, with many expecting further gains in the near term. The iShares Silver Trust (SLV) ETF, which tracks the price of silver, benefited from this upward momentum, attracting both retail and institutional investors.
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