On June 24, Sprott Physical Silver Trust declined 5.02% in regular trading, trading at $18.455/share, with turnover of $155 million, extending the prior session's sharp selloff.

On the news front, silver prices continued to plunge as Bank of America projected the Federal Reserve will raise rates by 25 basis points each in September, October, and December. The CME FedWatch tool shows traders now price in an 89% probability of a December rate hike, with tightening expectations severely impacting precious metals. Simultaneously, the US dollar index surged to approximately 101.50, hitting a one-year-plus high, raising the opportunity cost of holding non-yielding assets like silver and accelerating capital outflows from silver-linked products.

The fund's current share price has retreated over 51% from its 52-week high of $38.13. Analysts note the precious metals market faces dual headwinds from rising real interest rates and a strengthening dollar, with silver unlikely to escape its weak trajectory in the near term absent fresh safe-haven demand.

Sprott Physical Silver Trust is an exchange traded commodity that invests primarily in physical silver bullion in London Good Delivery bar form. It was formed on June 30, 2010 and is domiciled in Canada.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)