--- title: "Weekly Recap | iShares Silver Tr -2.84%, spot silver slides 5% in a day" type: "News" locale: "en" url: "https://longbridge.com/en/news/298786549.md" description: "iShares Silver Trust (SLV) fell 2.84% this week to close at $58.12, while the S&P 500 slipped 0.8%, leaving SLV about 2.04 percentage points behind the benchmark. Trading spanned four sessions with a 7.22% intraweek range, and the path was best described as a failed rally. Tuesday (Sep 8) opened at $59.87 and closed at $59.37; Wednesday pushed to a weekly high of $61.705 before settling at $60.72; Thursday gapped lower to $58.42, slid to $57.38, and closed at $57." datetime: "2026-09-12T04:51:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/298786549.md) - [en](https://longbridge.com/en/news/298786549.md) - [zh-HK](https://longbridge.com/zh-HK/news/298786549.md) generator: "portal-rs" --- # Weekly Recap | iShares Silver Tr -2.84%, spot silver slides 5% in a day ## The Week iShares Silver Trust (SLV) fell 2.84% this week to close at $58.12, while the S&P 500 slipped 0.8%, leaving SLV about 2.04 percentage points behind the benchmark. Trading spanned four sessions with a 7.22% intraweek range, and the path was best described as a failed rally. Tuesday (Sep 8) opened at $59.87 and closed at $59.37; Wednesday pushed to a weekly high of $61.705 before settling at $60.72; Thursday gapped lower to $58.42, slid to $57.38, and closed at $57.50; Friday recovered only modestly to $58.12. The 60-day moving average sits at $56.248, so the ETF remains above that longer-term line despite the pullback. ## Sector News The dominant thread across precious metals this week was US inflation data and shifting Fed rate-hike expectations. Early in the week silver held its decline as traders priced in higher odds of tightening, while spot silver briefly traded above $67 before retreating. COMEX silver inventories continued to shrink, with eligible stocks posting net outflows, a supply-side signal that coexisted with lower prices. On Thursday (Sep 10), tariff-related headlines and surging yields hit metals broadly: spot silver dropped 5.00% to $63.88 and SLV fell 5% on the day, with some put options surging 1300%. The S&P 500 declined for a fourth straight day ahead of the CPI print on Friday. Separately, Kalshi launched 24⁄7 gold and silver perpetual contracts on Sep 10 after CFTC approval, adding new trading infrastructure for silver exposure. ## The Week Ahead The New York Fed manufacturing index arrives on Tuesday (Sep 15), with a prior reading of 20.6 and a forecast of 14.75. Wednesday (Sep 16) is the busiest session: retail sales, retail sales ex-autos, import prices, the NAHB housing market index, and weekly EIA crude inventories. Retail sales carries a prior of -0.6% and a forecast of 0.9%, making it the clearest test of consumer resilience. This week’s silver decline was driven largely by rate expectations, so a hotter inflation or stronger consumption reading could keep pressure on precious metals, while softer data might allow some repair after Thursday’s sharp drawdown. ## In Short SLV’s weekly loss was concentrated on Thursday, when a 5% one-day drop in spot silver coincided with broad equity weakness, underscoring the ETF’s rate-sensitive, high-volatility profile. COMEX inventory drawdowns and rising speculative net longs stood in contrast to the price decline, while Kalshi’s 24⁄7 perpetuals added a fresh trading venue. In the latest session, large-lot flow was net selling while small-lot flow was net buying, pointing to a split between institutional and retail positioning. Valuation sits mid-range for the past 60 sessions, with a PE near 17 and PB near 2.8. The key test ahead is whether Sep 16 retail sales data validates or weakens current rate-hike expectations, and whether silver inventory tightening continues.\\n\\n*This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [SLV.US](https://longbridge.com/en/quote/SLV.US.md) ## Related News & Research - [Silver's $55 Moment Of Truth: Shorts, Selling And Soaring Skew](https://longbridge.com/en/news/302767815.md) - [Comex Silver Ends the Week 6.06% Lower at $56.995 — Data Talk](https://longbridge.com/en/news/302136776.md) - ["Stuck": Silver Bears Have Never Been This Comfortable; That's The Problem...](https://longbridge.com/en/news/301380462.md) - [NAGA sees 50% chance of risk-off markets in Q4 2026](https://longbridge.com/en/news/302525497.md) - [Silver Nears Crucial Test: Peak Scarcity or Structural Squeeze?](https://longbridge.com/en/news/301886172.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**