New York, Jan 6, 2026, 06:37 EST — Premarket
- iShares Silver Trust (SLV) and abrdn Physical Silver Shares ETF (SIVR) rose in early trading as spot silver climbed to a one-week high.
- Silver’s move tracked rate-cut bets and a fresh bid for safe havens after U.S. action involving Venezuela’s President Nicolas Maduro.
- Traders are watching Friday’s U.S. nonfarm payrolls report for clues on the Federal Reserve’s next steps.
U.S.-listed silver ETFs rose in premarket trade on Tuesday after spot silver climbed to a one-week high, keeping precious metals in focus ahead of key U.S. jobs data. iShares Silver Trust (SLV) was up 2.3% at $70.66, while abrdn Physical Silver Shares ETF (SIVR) gained 2.7% to $74.49. StockAnalysis+1
The early move matters because silver-linked funds have become the fastest way for many investors to trade the metal without buying and storing bars. The next leg likely depends on whether U.S. data validates the market’s growing conviction that the Fed can cut rates again this year. Reuters
Spot silver was up 1.9% at $77.97 an ounce by 9:46 a.m. GMT, Reuters reported, after U.S. factory activity contracted more than expected in December and fell to a 14-month low. The report also cited safe-haven demand after the United States captured Venezuelan President Nicolas Maduro over the weekend. Reuters
Ricardo Evangelista, an analyst at ActivTrades, said prices were being “supported by increased safe-haven demand” and by “rising bets on Federal Reserve rate cuts” after the weak U.S. manufacturing data. Minneapolis Fed President Neel Kashkari warned on Monday the jobless rate could “pop” higher, boosting the case for a cut, the report added. Reuters
Monday’s session already delivered sharp gains across major silver trackers: SLV rose 5.1% at the close, SIVR added 5.0% and Sprott Physical Silver Trust (PSLV) gained 4.6%, according to closing data. StockAnalysis+2StockAnalysis+2
SLV held about 16,353.6 metric tons of silver as of Jan. 5, with net assets of about $39.5 billion, BlackRock’s iShares data show. The trust says it aims to “reflect generally the performance of the price of silver,” and it showed a roughly 1.5% premium/discount — the gap between the share price and the value of the underlying metal — at the close. BlackRock
Aberdeen says SIVR seeks to track the price of silver bullion, less expenses, and lists a 0.30% expense ratio, versus SLV’s 0.50% sponsor fee on the iShares site. PSLV, a Canadian-domiciled trust that also holds bullion, was up 2.3% in premarket trading. aberdeeninvestments.com+2BlackRock+2
But silver has a history of fast reversals, and a stronger-than-expected jobs report could lift bond yields and the dollar, a mix that can weigh on non-yielding metals. Any easing in geopolitical tension would also test the safe-haven bid that has helped support the complex in recent sessions. Reuters
Investors will next focus on December nonfarm payrolls due on Friday to gauge whether the Fed delivers the two rate cuts markets are now pricing. For silver, traders will also watch whether prices can push back toward the Dec. 29 record of $83.62 cited in the Reuters report. Reuters
