Yes, yes. By now we’re all familiar with gold exchange traded funds (ETFs). But silver has been far outpacing the yellow metal this year, and there’s prediction for more growth in the short-term.
Everyone is talking about gold prices breaking records and rising up charts, but silver has actually risen much more. (What are the benefits of investing in silver?) Silver prices, as gauged by the global benchmark London fixing, have soared nearly 70% this year, compared with a 30% gain in gold prices, reports Moming Zhou for MarketWatch. (What about the other metals?)
Despite the run-up, silver prices are actually 12% lower than a year ago. Nevertheless, investment demand is forecast to continue to prop up metal prices while industrial and jewelry silver consumption may remain weak this year. (Read about tax treatment of precious metals ETFs.)
For more stories about silver, visit our silver category.
- ETFS Physical Silver Shares (NYSEArca: SIVR): up 32.9% in the last three months
- PowerShares DB Silver (NYSEArca: DBS): up 61.8% year-to-date
- iShares Silver Trust (NYSEArca: SLV): up 62.7% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.