ProShares Ultra Silver (AGQ), the leveraged exchange-traded fund seeking twice the daily performance of silver, soared 5.14% over the 24-hour period. This significant upward movement reflects heightened volatility in the underlying silver market.
The surge appears driven by multiple factors. A key catalyst was escalating geopolitical tensions after U.S. forces shot down an Iranian drone approaching the USS Abraham Lincoln aircraft carrier in the Arabian Sea, boosting safe-haven demand for precious metals. Simultaneously, the Shanghai Gold Exchange eased trading conditions for silver by lowering margin requirements and daily price fluctuation limits for silver deferred contracts, making the market more accessible.
Additionally, the move represents a technical rebound following one of the most severe sell-offs in silver prices in decades last week, with bargain-hunting behavior noted across global markets. The leveraged structure of the AGQ ETF amplifies both downside and upside moves in silver prices, contributing to the pronounced gain observed over the trading period.
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