🔴 Physical Silver ETF (PHAG.AS) is trading 3.5% down after hawkish Fed remarks revived tighter-policy expectations

PHAG.AS is trading at €52.37 (-3.52%) as hawkish remarks from Federal Reserve Chair Kevin Warsh pressured silver.

• His August 28 Jackson Hole remarks revived expectations for tighter policy, lifting short-term yields and the U.S. dollar and reducing precious-metals demand.
• Spot silver fell as much as 4.24% in Friday trading; geopolitical risk and higher oil offered defensive support, while euro-dollar translation effects also weighed on PHAG.AS.