Latest News for USLV
To say silver is in the midst of a precipitous decline is an understatement. The iShares Silver Trust (SLV), the largest ETF backed by physical holdings of the commodity, is off 38% over the past six months.
On Wednesday, May 27, Direxion expanded its coverage of leveraged & inverse ETFs with the launch of four new ETFs. Each of these ETFs takes a leveraged look at a different precious metal or cryptocurrency.
Silver extended its decline for a third consecutive session on Monday, with XAG/USD trading around $74.20 per troy ounce during Asian hours. Investors reacted to India's surprise restrictions on silver imports, rising expectations of another Federal Reserve rate hike and weaker investment demand projections from UBS.
Silver prices surged 7% Monday to the highest since March.
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