Stock Track | ProShares Ultra Silver Plunges 10.18% in Pre-Market as Trump's Iran Victory Speech Dampens Safe-Haven Demand

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ProShares Ultra Silver (AGQ), a leveraged exchange-traded fund designed to track twice the daily performance of silver, experienced a sharp pre-market plunge of 10.18%.

The decline in the silver-focused ETF followed former U.S. President Donald Trump's address, in which he claimed a "swift, decisive, and overwhelming victory" in recent military actions against Iran. Market analysts interpreted the speech as signaling a reduction in immediate geopolitical tensions, thereby diminishing the safe-haven appeal that had been supporting precious metals like silver.

Concurrently, the completion of major silver streaming agreements, including BHP Group's $4.3 billion deal with Wheaton Precious Metals and Wheaton's new gold and silver stream acquisition on the Jervois Project, contributed to market expectations of increased future silver supply. The sharp drop in the underlying spot silver price, reported to have fallen over 6% during the session, was magnified by AGQ's leveraged structure, leading to the significant pre-market decline.

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