🔴 Silver is trading 4% down today as record-high U.S. equity markets pull capital from defensive assets

SI=F is trading 3.9% down at $81.59 as record-high U.S. equity markets pull capital away from defensive assets.

• Silver futures remain under pressure following sharp losses in the prior session, though no major silver-specific fundamental shocks have been reported.
• Volatility remains elevated after last week’s wide trading range, suggesting that macro risk appetite and asset rotation are the primary drivers of the downward move.