On June 6, Abrdn Silver ETF Trust fell 8.01% in regular trading, trading at $64.705/share, with trading volume of $127 million. The sharp decline reflects intensifying selling pressure across the precious metals complex.
On the news front, the U.S. Bureau of Labor Statistics reported May non-farm payrolls surged by 172,000, nearly double the consensus estimate of 88,000 and well above the prior reading of 115,000. The unemployment rate held steady at 4.3%. The significantly stronger-than-expected employment data bolstered the dollar and diminished near-term rate cut expectations, triggering a broad selloff in precious metals. Spot silver plunged over 3.5% while spot gold fell approximately 1.3%.
The broader precious metals sector has been under sustained pressure since early June, with global silver ETF holdings declining and industrial metals such as platinum and palladium falling in sympathy. Market participants note that weakening consumer indices globally and soft commodity demand expectations have pushed precious metals into a clear downtrend. Multiple major Chinese banks also raised margin requirements on gold and silver deferred contracts to 120%, further reflecting heightened volatility risk management.
Abrdn Silver ETF Trust is designed to provide investors with a cost-effective means of gaining exposure to silver price movements through the securities market, as an alternative to direct physical silver investment.
(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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