🔴 PHAG.AS is trading 5.2% down today on higher real yields and cooling precious metals demand

PHAG.AS is trading 5.2% down today as investors rotate out of precious metals amid higher real yields and waning demand for non-yielding assets.

• The move reflects broad weakness in silver and gold markets, with physically backed vehicles tracking a global pullback in spot silver prices.
• Recent commentary suggests silver products are under pressure as market volatility rises and interest in non-yielding assets cools.