On September 28, iShares Silver Trust fell 5.09% in pre-market trading, trading at $55.23/share, with turnover of $7.2168 million. The decline came as spot silver plunged over 3.6% to around $61.9/oz, while spot gold simultaneously broke below $4,200/oz.

The selloff was driven by a confluence of bearish macro factors. The Federal Reserve continued to signal a hawkish monetary stance, with the 10-year U.S. Treasury yield holding above 5% and the U.S. Dollar Index breaking through 101, sharply raising the opportunity cost of holding zero-yield precious metals. Global trading desks triggered large-scale position unwinding in response. Compounding the pressure, the Chicago Mercantile Exchange raised margin requirements on silver futures contracts, forcing leveraged long positions with tight capital to liquidate involuntarily, amplifying the downside move.

Notably, the world's largest silver ETF had already seen holdings decrease by 53.38 tons as of September 23, suggesting institutional outflows were building ahead of the sharp decline. Despite the near-term pressure, UBS recently maintained a constructive medium-term outlook, forecasting silver prices could reach $70/oz by December and $80/oz by September next year, contingent on sustained gold strength and stable investment and industrial demand.

iShares Silver Trust seeks to reflect the performance of the price of silver, before payment of the Trust's expenses and liabilities. It is not actively managed and does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)