On May 15, iShares Silver ETF (SLV) fell 6.05% in pre-market trading, trading at approximately $71.06/share, with trading volume of $18.38 million. The sharp decline was driven by a global silver market sell-off after spot silver breached the critical $80/oz support level.
On the news front, London silver plunged over 5% intraday, while Shanghai silver collapsed 11.05%, as the global silver market suffered a severe pullback. Silver had previously rallied on expectations of surging demand from AI data center buildouts, pushing London silver to the key $85 resistance level. However, the failure to sustain a breakout above that threshold triggered concentrated profit-taking, which accelerated the downside move across all silver-related instruments.
The Trust seeks to reflect the performance of the price of silver before payment of the Trust's expenses and liabilities. It is not actively managed and does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver. As a 1x long ETF tracking London spot silver prices, SLV moves in lockstep with the underlying commodity.
(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.)
