Exchange traded funds (ETFs) that give investors exposure to gold and silver saw their bullion holdings decrease Tuesday along with prices for precious metals, according to reports.

The iShares Silver Trust (NYSEArca: SLV) saw its largest one-day outflow in about a month, Reuters reported.

Some traders have been tapping the options markets to place bearish bets against the silver ETF.

The silver ETF’s metal holdings are near record levels as silver prices surge.