On September 10, ProShares Ultra Silver fell 8.54% in regular trading, trading at $77.49/share, with turnover of $105 million. The leveraged silver ETF came under heavy selling pressure as a hotter-than-expected U.S. inflation print triggered a broad precious metals selloff.

On the data front, U.S. August PPI rose 5.4% year-over-year, exceeding market expectations of 5.3% and the prior reading of 4.7%. Following the release, traders fully priced in a Federal Reserve rate hike in October. Simultaneously, the European Central Bank announced a 25-basis-point rate increase, while crude oil surged more than 4% with WTI breaking above $100/barrel. The 30-year U.S. Treasury yield climbed to 5.35%, hitting a multi-year high. COMEX silver tumbled over 3% to approximately $66.5/oz, while COMEX gold fell nearly 1% to around $4,420/oz. As a 2x leveraged product tracking spot silver, ProShares Ultra Silver amplified the underlying decline.

CPI data due later this week is expected to be the next key variable shaping the Fed's September rate decision and near-term precious metals direction.

ProShares Ultra Silver seeks to deliver twice the daily return of silver bullion through financial instruments including swaps, futures, forwards, and options, and does not invest directly in any commodity.

(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.)