On October 14, iShares Silver Trust fell 5.01% in Regular Trading, trading at $50.81/share, with turnover of $444 million.
The move aligned with a broader drop in silver prices after US inflation data came in above expectations, lifting the dollar and Treasury yields and increasing market bets that the Federal Reserve could tighten policy again. Silver futures were reported at $59.16 per ounce on October 13, below the 60-dollar level, while earlier market reports said spot silver had also fallen under $60 as yields climbed.
Additional context indicates the latest CPI data pushed the implied probability of an October rate hike sharply higher, while recent Fed communication continued to signal that another increase this year remained possible. For a silver-backed trust such as iShares Silver Trust, which is designed to track silver prices before expenses and liabilities, weakness in the underlying metal directly pressures the fund.
The Trust seeks to reflect such performance before payment of the Trust's expenses and liabilities. It is not actively managed. The Trust 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.)
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