Stock Track | iShares Silver Trust Soars 6.12% as Silver Prices Surge on Geopolitical Tensions
Stock Track01-05
The iShares Silver Trust (SLV) surged 6.12% during intraday trading on Monday, reflecting a sharp rise in silver prices. The upward movement was driven by increased demand for the precious metal as a safe-haven asset amid escalating geopolitical tensions.
Silver prices climbed after the United States captured Venezuelan President Nicolas Maduro over the weekend, heightening market uncertainty. This event spurred investor interest in silver-backed assets like SLV, as well as shares of silver miners, which also saw gains premarket.
The rally in SLV aligns with broader trends in the precious metals sector, where gold and silver prices have been buoyed by geopolitical risks and their traditional role as hedges against instability.
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