Silver exchange traded funds were down about 2% on Thursday morning after rising the previous three days.
The iShares Silver Trust (NYSEArca: SLV) slid 2% in premarket trade.
The silver ETF ended Wednesday down 19.4% over the past month and with a 22.3% year-to-date gain, according to Morningstar.
“Silver still looks expensive and we would caution that the market remains most vulnerable to swings in risk sentiment,” Credit Suisse said, according to a report from FastMarkets.com.
SPDR Gold Shares (NYSEArca: GLD) slipped fractionally Thursday.