On September 28, iShares Silver Trust fell 5.02% overnight, trading at $55.2/share, with turnover of $33.41 million. The ETF, which tracks physical silver prices, faced heavy selling pressure amid a convergence of bearish macro catalysts.

The decline was primarily driven by escalating Fed tightening expectations and stalled US-Iran negotiations. New York Fed President Williams stated that another rate hike this year is a \"reasonable\" expectation, reinforcing the hawkish tone following the September rate increase to the 3.75%-4.00% range. Market pricing for an October rate hike surged to above 65.9%, up sharply from 9.4% a month ago, pushing the dollar higher and crushing demand for non-yielding assets like silver.

Geopolitically, the US rejected Iran's proposal to reopen the Strait of Hormuz, while Iran's foreign minister declared no concessions would be made. The diplomatic impasse kept oil prices elevated, reinforcing inflation concerns and further reducing the likelihood of any near-term Fed pivot, compounding pressure on silver.

Silver's outsized decline relative to gold reflects its higher-beta nature and dual sensitivity to both monetary tightening and global industrial demand expectations. Analysts noted the gold-silver ratio is expected to widen toward 70-75 as rate headwinds persist.

iShares Silver Trust seeks to reflect the performance of the price of silver bullion 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.)