Silver prices these days seem to be unstoppable. But it’s not just the physically-backed silver exchange traded funds (ETFs) leading the charge higher.
No, Global X Silver Miners (NYSEArca: SIL) is up 19% in the last month, and it’s more than holding its own against the physical ETFs like iShares Silver Trust (NYSEArca: SLV) and ETFS Physical Silver (NYSEArca: SIVR), both of which are up more than 22% in the last month.
Just as gold miners see their profit margins increase when gold prices are high, silver miners enjoy similar benefits. Global X’s fund is also a good play as an alternative for investors who aren’t interested in physically-backed or futures-based options. [Silver ETFs: Catch ‘Em On the Rebound.]
The ETF Professor on Benzinga reports that SIL is one year old today and has almost $500 million in assets under management. In the last year, the fund has gained 106.9%.