The $14.2 billion iShares Silver Trust (NYSEArca: SLV) surged nearly 4% on Thursday to a new record high as the silver exchange traded fund (ETF) closed above $41 a share for the first time.
Silver prices rallied after weekly jobless claims rose more than expected, while the dollar weakened and Greek bond yields soared. Investors will get data on consumer prices on Friday.
The silver ETF held nearly 353 million ounces of silver as of Wednesday’s close, down slightly from a recent record. The precious-metal ETF is up more than 30% year to date.
Some options traders, however, have been positioning for a correction in the silver ETF, which gained more than 1% on Wednesday.