The iShares Silver Trust (NYSE:SLV) is trading higher Wednesday afternoon, lifted by broad gains across precious metals.

Here's what's driving the move. iShares Silver Trust stock is charging ahead with explosive momentum.

What's driving SLV stock higher?

Silver Prices Surge on Hormuz Optimism and Shifting Fed Math Silver prices are up more than 4%, trading above $62 an ounce.

Wednesday's surge is likely being catalyzed by statements from U.S.