ProShares Ultra Silver (AGQ) experienced a sharp decline of 5.85% during the after-hours trading session. The leveraged exchange-traded fund, which aims to deliver twice the daily performance of silver bullion, moved significantly lower as the white metal faced selling pressure.

The after-hours drop followed reports that several abducted employees of Vizsla Silver were found dead at its Panuco silver-gold project in Mexico. This tragic development raises concerns about operational security and potential disruptions in the silver mining sector, contributing to negative sentiment among precious metals investors.

Broader market factors also weighed on silver prices. Analysts noted that fading safe-haven demand, combined with ongoing volatility in precious metals markets, created a challenging environment. Silver has exhibited extreme price swings recently, with sharp rallies followed by rapid pullbacks as traders reassess Federal Reserve policy expectations and global demand dynamics. Additionally, comparative analysis of silver ETFs, including AGQ, may have influenced investor positioning during the volatile session.