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Leveraged precious-metals ETFs are the standouts on Wall Street this session, with the Direxion Daily Gold Miners Bull 2X Shares (NYSEARCA:NUGT) surging 14.46% and the ProShares Ultra Silver (NYSEARCA:AGQ) climbing 9.39% as both gold and silver spot prices rally, both up between 4% and 5%.

ProShares Ultra Silver ETF is rated Sell due to structural decay from its 2x daily-reset leverage, not because of a bearish silver outlook. AGQ consistently underperforms unlevered silver ETFs like SLV and SIVR, delivering only about 24% return versus SLV's 56% over the past year. Over nearly 17 years, AGQ compounded at 2% annually versus SIVR's 8.44%, turning $10,000 into $14,100 versus $39,600, highlighting…

Silver fell towards $58.50 an ounce on Friday as a modest rebound in the US dollar prompted traders to trim positions after two sessions of gains. The metal was down about 0.8% at $58.52 in early trade, snapping a brief recovery that followed the Federal Reserve's decision to keep interest rates unchanged.

The ProShares Ultra Silver ETF (NYSEARCA: AGQ) has become an increasingly popular way for bullish investors to amplify their exposure to silver.

ProShares Ultra Silver (NYSEARCA:AGQ) and ProShares UltraShort Silver (NYSEARCA:ZSL) look like mirror images: one bets 2x long on silver, the other 2x short.