🔴 Physical Silver ETF (PHAG.AS) is trading 4.4% down after hawkish Fed signals lift rate-hike expectations

PHAG.AS is trading at €51.89, down -4.40%, as Federal Reserve Chair Kevin Warsh adopted a hawkish tone, lifting expectations for a September rate hike.

• Higher yields and a stronger U.S. dollar are reducing demand for non-yielding precious metals.
• Escalating U.S.-Iran tensions and higher oil prices added volatility.
• Safe-haven demand has only partly offset the monetary-policy pressure.