On September 11, Sprott Physical Silver Trust fell 5.21% in regular trading, trading at $20.9095/share, with turnover of $143 million. The decline was driven by hawkish signals from Fed Chair Waller, which pushed up market rate hike expectations and put broad pressure on precious metals.

Silver, which carries dual attributes as both a precious metal and an industrial metal, faced a compounded hit from rising real interest rates and weakening global industrial demand expectations during a tightening cycle, resulting in a significantly steeper decline than gold. COMEX silver had previously plunged over 3%, trading around $66.5/ounce, while COMEX gold fell nearly 1%. Precious metals prices have trended weaker throughout September. As a physical silver bullion trust fund, PSLV is highly correlated with spot silver prices and was directly dragged lower by the silver selloff.

Sprott Physical Silver Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. The fund invests in the commodity markets, primarily in physical silver bullion in London Good Delivery bar form. It was formed on June 30, 2010 and is domiciled in Canada.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)