Silver exchange traded funds (ETFs) continued to rally Thursday after the Federal Reserve and Ben Bernanke signaled the central bank intends to keep interest rates low and monetary policy loose to stimulate the economy.
The iShares Silver Trust (NYSEArca: SLV) rallied more than 2% in the first half hour of trading. It was up 78.8% for the three months ended April 26, according to Mornignstar, not including the rally over the past two days.
The $16 billion silver ETF held 355.4 million ounces of silver as of April 27, according to sponsor BlackRock, which translates into more than 11,000 metric tons.
iShares Silver Trust
Full disclosure: Tom Lydon’s clients own SLV.
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