The iShares Silver Trust (NYSEArca: SLV) was up nearly 2% as metals prices continued their seemingly unstoppable rise Friday.
The bullion held by the silver exchange traded fund (ETF) has surged to a record this week with nearly 360 million ounces in its vaults. Silver futures have climbed over $40 an ounce as the dollar weakens.
Gold was trading above $1,470 an ounce on Friday. SPDR Gold Shares (NYSEArca: GLD) traded higher by nearly 1%.
“Gold continues to draw support from the ongoing geopolitical uncertainty … dollar weakness, elevated oil prices, concerns over inflation and …. Portugal’s request for financing from the European Union,” analysts at Barclays Capital wrote in a research note, MarketWatch reported.
iShares Silver Trust