An exchange traded fund (ETF) for silver was up 2% in premarket trading Thursday as the metal’s rally shows no signs of slowing this week.
The iShares Silver Trust (NYSEArca: SLV) rose more than 2% in preopen action. The ETF holds $16 billion in assets and nearly 360 million ounces of silver, or more than 11,000 metric tons.
Silver traded over $46 an ounce to a new 31-year high on Thursday. The metal has rallied 30.7% over the past month, pushing the gold/silver ratio to the lowest level since 1983, according to FastMarkets.
The iShares Silver Trust was up 64.3% for the three months ended April 19, according to Morningstar.
iShares Silver Trust
Full disclosure: Tom Lydon’s clients own SLV.
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