The iShares Silver Trust (NYSEArca: SLV) was up more than 1% before Tuesday’s opening bell despite a stronger dollar as the precious metal exchange traded fund (ETF) recovered somewhat after the previous session’s drubbing.
The $17.2 billion ETF lost nearly 9% on Monday amid the sell-off in silver. It holds over 11,000 metric tons of silver. Other ETFs tracking the highflying metal include ETFS Physical Silver (NYSEArca: SIVR) and PowerShares DB Silver (NYSEArca: DBS).
Silver was rising Tuesday morning while the Dollar Index rose about 0.4% before U.S. markets opened.
CME Group late Monday raised margin requirements for Comex silver futures, the third such hike in about a week.
SPDR Gold Shares (NYSEArca: GLD) was unchanged before Tuesday’s bell after hitting a record high the prior day.