🔴 SIL is trading 3.5% down today as higher yields pressured silver miners

SIL is trading 3.5% down now at $94.52 as a broad risk-off move and rising yields pressured silver miners.

• Silver prices were reported down more than 2.5% on September 1 as hawkish Federal Reserve expectations and higher yields weighed on the non-yielding metal.
• Global bond selling, Middle East tensions, and Japan’s 10-year yield reaching 3% intensified defensive positioning.
• No company-specific announcement, earnings release, or direct SIL catalyst was identified; SIL fell 3.88% on August 28 amid continued macro pressure.