On September 10, Sprott Physical Silver Trust fell 5.08% in pre-market trading, trading at $20.92/share, with turnover of approximately $9.62 million, as a broad selloff swept through global precious metals markets.

On the news front, overseas commodities collectively plunged during the evening session, with COMEX silver tumbling over 3% to around $66.5/oz and COMEX gold declining nearly 1%. LME copper also fell more than 3.5%. As an exchange-traded trust that holds physical silver bullion, PSLV tracks silver prices closely and was directly impacted by the sharp drop in the underlying metal.

The selloff comes amid a broader trend of weakening precious metals since early September. Fed Chair Wosh recently delivered hawkish signals that have pushed up rate hike expectations, while escalating US-Iran tensions have driven oil prices higher, fueling inflation concerns. Silver had been trapped in a consolidation pattern ahead of the upcoming Fed rate decision, with the 50-day EMA and 200-day SMA constraining price action. The combination of persistent high-rate headwinds and fading safe-haven appeal has extended the near-term bearish pressure on silver and related instruments.

Sprott Physical Silver Trust is an exchange-traded commodity fund managed by Sprott Asset Management, LP. The fund 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.)