ProShares Ultra Silver (AGQ), a leveraged ETF tracking silver prices, plummeted 5.11% during intraday trading on Wednesday. The sharp decline reflects the high volatility and slight downturn in silver prices, which are influenced by broader market factors.
The drop in AGQ is attributed to several key factors: escalating geopolitical tensions around Greenland and US-Europe tariff threats, which have undermined confidence in dollar-denominated assets. Additionally, macroeconomic uncertainties, including shifting expectations for the next Federal Reserve Chair and potential interest rate cuts, have added pressure. Silver's industrial attributes and recent trading risk control measures have also contributed to its paused upward momentum, further impacting AGQ's performance.
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