ProShares Ultra Silver (AGQ), the leveraged exchange-traded fund designed to deliver twice the daily performance of silver bullion, surged 12.16% during Monday's intraday trading session. The significant upward move reflects a dramatic recovery in the underlying silver market following a period of extreme price swings.

The surge in AGQ is directly tied to a sharp rebound in silver prices, with spot silver rising more than 4% and touching $81 per ounce in international markets. This recovery comes after silver experienced severe declines and high volatility, including a dramatic single-day drop that created turmoil in silver-related investment products. The leveraged structure of AGQ amplifies these underlying silver price movements.

The broader precious metals market showed signs of stabilization and recovery, with domestic silver futures also posting gains of more than 8%. Market analysts attribute the volatility and subsequent rebound to a complex mix of factors including shifting investor sentiment, liquidity dynamics, and reactions to macroeconomic policy expectations. Silver has demonstrated resilience after recent elevator-like price swings, rebounding from lows near $60 per ounce.