SIL is trading now 3.3% down at $93.18 in pre-market after silver prices weakened amid higher expectations for a Federal Reserve rate increase and renewed Middle East tensions.
- Silver futures opened 0.6% lower on September 14 and later fell to $63.35, while markets priced an 86.5% chance of a rate increase this week.
- Broad risk-off sentiment also weighs on the ETF, with S&P 500 futures down 0.79% and Nasdaq futures down 1.84%.