iShares Silver Trust is trading 6.3% down today as silver prices extend a steep pullback following a powerful multi-month rally.
- A more hawkish interest-rate backdrop and rising Treasury yields are pressuring precious metals by increasing the opportunity cost of holding non-yielding assets.
- Broader risk-off sentiment and concerns that energy-driven inflation will keep global central banks tighter for longer are further weighing on silver and the trust, compounding today's downside move.