iShares Silver Trust Slides Wednesday: What's Happening?

iShares Silver Trust (NYSE: SLV) shares fell 3.57% to $58.56 on Wednesday due to declining physical silver prices, influenced by a strengthening U.S. dollar and rising bond yields. The downturn follows hawkish comments from Richmond Federal Reserve President Tom Barkin, who indicated potential future interest rate hikes, thereby increasing the opportunity cost of holding non-yielding assets like silver. Additionally, elevated corporate borrowing costs are expected to dampen industrial demand for silver, further impacting the trust.