SLV is trading at $49.80, down 4.61%, as renewed attacks on commercial shipping in the Strait of Hormuz pushed crude higher, intensifying inflation concerns and expectations of tighter Fed policy.
- Silver and gold sold off in early U.S. trading.
- Reports also cite rate-hike fears, a steady dollar and the higher opportunity cost of holding non-yielding metals; concerns about industrial demand may add pressure to silver.