Stock Track | iShares Silver Trust Soars 11.39% Intraday on Bargain Hunting and Regulatory Easing

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The iShares Silver Trust (SLV) surged 11.39% during intraday trading on Tuesday, marking a sharp rebound for the silver-focused exchange-traded fund.

This significant upward movement is attributed to investors engaging in bargain hunting after the trust, along with the broader silver market, experienced a severe sell-off. The recent plunge was triggered by the US President's nomination of Kevin Warsh for Federal Reserve Chair, a move perceived as hawkish that led to U.S. dollar strength and pressured precious metals.

Adding to the positive sentiment, the Shanghai Gold Exchange announced it would reduce margin requirements and daily price fluctuation limits for silver deferred contracts, effectively lowering trading costs and restrictions. This regulatory easing indicates renewed investor confidence in the precious metal's underlying fundamentals.

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