ProShares Ultra Silver (AGQ), the exchange-traded fund designed to deliver twice the daily performance of silver, surged 5.00% during night session trading. The leveraged ETF's movement reflects a powerful ongoing rally in the underlying silver market.
The surge is driven by multiple factors converging to boost demand for precious metals as safe-haven assets. Escalating geopolitical uncertainties, including statements from former U.S. President Donald Trump regarding military access and tariff threats, have intensified investor risk aversion. Additionally, a weaker U.S. dollar and persistent concerns over silver supply tightness are compounding the upward pressure on prices.
Silver's rally is further supported by its recent designation as a critical mineral by the U.S. Interior Department, raising concerns about potential tariffs. With gold prices hitting record levels above $5,100 per ounce, retail investors struggling to access expensive gold are turning to silver as an alternative safe-haven investment, creating additional demand momentum for the white metal that has now reached approximately $110 per ounce.
Comments