The iShares Silver Trust (SLV) rebounded from four-month lows on Monday following a dramatic morning reversal. Silver prices initially crashed more than 12% as geopolitical tensions escalated between the U.S., Israel, and Iran.
The recovery began after President Trump withdrew threats to attack Iranian energy infrastructure. This decision caused oil prices to drop and sparked a rally in global stock markets.
The volatility follows a 4.7% contraction in SLV silver holdings during March. This figure marks the largest monthly decline for the fund since March 2021.
Industrial demand for silver remains robust within the solar and semiconductor industries. Some silver-focused ETFs are currently reporting record inflows as investors seek hedges in hard assets.