🔴 Silver ETF (PHAG.AS) is trading 4.04% down as oil-fueled rate fears weigh on silver

PHAG.AS is trading at €44.80, down 4.04%, as rate concerns and weaker industrial demand pressure silver.

• On October 22, coverage tied silver’s sharp fall to fears of tighter Federal Reserve policy and weaker industrial demand.
• Reports of tanker incidents near the Strait of Hormuz pushed Brent above $112 a barrel, stoking inflation concerns and expectations that rates may stay higher for longer.
• Despite lower Treasury yields, rate and demand concerns outweighed safe-haven buying; this was a broad precious-metals move, not an ETF-specific catalyst.