🔴 Physical Silver ETF (PHAG.AS) is trading 4.01% down on August 19, 2026 as silver falls on higher Treasury yields

PHAG.AS is trading at €50.05, down -4.01% as higher U.S. Treasury yields pressure silver and the physically backed ETF.

• On August 18, spot silver fell 2.8% to $63.96, directly pressuring the ETF; weakness continued into August 19.
• The 30-year U.S. Treasury yield neared 5.33%, while expiring U.S.-Iran ceasefire expectations lifted oil prices and renewed inflation concerns.
• The decline appears commodity-specific rather than driven by PHAG.AS fund news.