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REDDIT

Why the divergence between PSLV and silver spot price?

J
Jan 27, 2026 · 22:57

Since PSLV is 100% backed by physical silver, why are PSLV gains not following spot price gains? Silver spot was way up today, but PSLV was down \~ 2%. Year to date, spot price is up 56% and PSLV is only up 41%. Is this just due to volatility and PSLV will eventually catch up?