ProShares Ultra Silver (AGQ) surged 11.87% in the night session, reflecting a significant rally in the leveraged silver exchange-traded fund.
The price movement follows geopolitical developments in the Middle East, where the White House announced Israel's agreement to a temporary ceasefire and U.S. President Donald Trump stated the United States would postpone planned military strikes against Iran for two weeks. These developments increased demand for precious metals as safe-haven assets, with spot silver rising 4% during the day.
As a leveraged ETF that seeks to provide twice the daily performance of silver bullion, AGQ's substantial gain reflects the amplified impact of the underlying silver price movement on the fund's value during periods of market uncertainty.
