The commodity market is showing signs of strength, and many consider gold as the best haven, however, silver is beginning to gain the spotlight, and the related exchange traded fund(ETF) is rallying.Many investors consider gold an inflation hedge, but don’t count out other metals for both your own use as well as investment. Ryan Campbell for Forbes also explains that wiring for appliances and electronics requires a lot of copper and silver, so if the demand increases for these goods, so will the demand for these and other highly conductive metals.

The fact that silver prices are moving in an upward direction are positive signs that the markets may be, too. This also indicates that consumption may be mending and ready to rebound. Another benefit of going to silver is that it’s cheaper than gold, but no less useful as an inflation hedge.

The silver ETF, iShares Silver Trust (SLV), has popped above its 200-day, and is up 19.7% for the last month.

• iShares Silver Trust (SLV): up 24.8% year-to-date

For full disclosure, Tom Lydon’s clients own shares of SLV.

Tags: Commodity ETFs, Precious Metals, Silver, SLV