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

SPDR Gold Shares (NYSEArca: GLD) slipped fractionally Thursday.

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