On September 17, ProShares Ultra Silver rose 8.32% in pre-market trading, trading at $79.86/share, with turnover of $9.50 million.

On the news front, the rally was driven by a convergence of macro and geopolitical factors. Although the Federal Reserve's September rate hike expectations have climbed to elevated levels, the market widely believes the move has been fully priced in, effectively releasing short-term bearish pressure on silver. Analysts noted that an earlier rate hike could help block energy-driven inflation from transmitting downstream, thereby lowering long-term inflation and interest rate expectations. This dynamic raises the threshold for further tightening and improves forward-looking liquidity conditions, supporting precious metals.

Simultaneously, escalating Middle East geopolitical tensions, particularly the conflict between Yemen's Houthi forces and Saudi Arabia, have fueled safe-haven demand, providing additional upside momentum for silver prices. Market data also indicates that the global silver market has been in a structural deficit for five consecutive years, with physical inventories depleting rapidly as industrial demand from photovoltaic, AI, and electric vehicle sectors continues to surge.

ProShares Ultra Silver seeks daily investment results that correspond to two times the daily performance of silver bullion. The fund invests in financial instruments including swap agreements, futures contracts, and options rather than directly in any commodity.

(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.)