iShares Silver Trust (SLV) surged 6.09% during intraday trading on Friday, reflecting strong buying interest in silver-backed assets.

The rally in silver prices is attributed to heightened safe-haven demand amid geopolitical tensions, including escalating US-Iran conflicts, which typically boost precious metals. Additionally, technical analysis indicates a rebound from recent lows, with bullish candlestick patterns forming after silver hit multi-day lows, suggesting intensified battles between bulls and bears.

While a stronger US dollar index and profit-taking after recent gains have posed headwinds, the overall market sentiment favors precious metals as investors seek diversification. The movement aligns with broader trends in commodity ETFs, which advanced alongside US equities during the session.