The iShares Silver Trust (SLV) spiked on May 7, 2026. Spot silver prices climbed above the $80 per ounce threshold. Daily gains for the metal exceeded 3% to 4%.
A conditional U.S.-Iran ceasefire shifted investor focus toward market fundamentals. A persistent structural supply deficit and a weaker U.S. dollar supported the rally.
Strong industrial demand from the solar and electric vehicle sectors further boosted prices. SLV traded significantly higher as it directly tracks silver bullion performance.