SLV is trading at $62.77, down 3.7% in pre-market action as geopolitical risks in the Middle East reignite following Iran's rejection of a 15-point peace proposal.
- The decline reverses a 3.6% gain from March 25, which was driven by initial ceasefire hopes that have since been overshadowed by missile strikes and Iranian demands for control of the Strait of Hormuz.
- Market sentiment has shifted back to a risk-off stance, with lower US futures and a stronger dollar weighing on commodities while energy prices spike.