ProShares Ultra Silver (AGQ), a leveraged ETF tracking silver prices, surged 9.80% intraday on Monday, mirroring a broader rally in precious and industrial metals. The move aligns with heightened investor interest in metals as safe-haven assets and speculative plays, fueled by social media-driven hype around niche commodities like copper and indium.
The rally follows reports of surging demand for physical silver and related derivatives, with traders capitalizing on momentum from gold's upward trajectory. Notably, the non-ferrous metals sector has outperformed recently, with industrial metals like copper and indium drawing speculative buyers. Analysts attribute AGQ's leveraged gains to this cascading enthusiasm, though caution that such instruments amplify volatility.
Experts warn that while precious metals like silver benefit from dual demand (industrial and investment), the current "periodic table investing" trend carries significant risks. "Silver ETFs can be volatile proxies for physical metal prices," noted one analyst, emphasizing that leveraged products like AGQ are particularly sensitive to short-term sentiment shifts in the commodities space.
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