Gold might be a record-breaker, but silver exchange traded funds (ETFs) are ones to watch. While gold is up nearly 18% year-to-date, silver is up nearly 25%. Take that.
Not only is silver outperforming gold right now, the metal is at 30-year highs, says Pham Duy Nguyen and Nicholas Larkin for BusinesWeek. For its part, gold touched $1,300 today. Both metals are outperforming global equities, Treasuries and most industrial metals, too. [Silver ETFs: More Than Poor Man’s Gold.]
The growth of both metals is primarily being driven by the dollar, which fell to the lowest level since February against a basket of six major currencies as the Federal Reserve keeps borrowing costs low.
Another reason for silver’s rising popularity may be its relative cheapness. Commodity Online reports that investors are pouring into silver ETFs as they search for less expensive alternatives to gold. [Why Investors Want Gold and Silver ETFs.]
- iShares Silver Trust (NYSEArca: SLV)
- ETFS Physical Silver Shares (NYSEArca: SIVR)
Tisha Guerrero contributed to this article.
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.