The ProShares Ultra Silver ETF (AGQ) surged 5.06% during intraday trading on Thursday, reflecting a sharp rally in leveraged silver exposure.
The move in the silver-linked fund aligns with a broader rebound in precious metals markets, driven by renewed safe-haven sentiment. Market analysts point to a short-term ceasefire agreement between the United States and Iran, which has temporarily eased geopolitical tensions and placed downward pressure on the U.S. dollar index, benefiting dollar-denominated assets like silver.
Further supporting the rally, key U.S. inflation data released intraday showed the core PCE price index—the Federal Reserve's preferred inflation gauge—rose in line with market expectations, sustaining concerns about persistent price pressures. A weaker U.S. dollar and firmer oil prices also contributed to the supportive environment for silver, a metal viewed as both a monetary and industrial asset.
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