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.
“For the coming days and weeks we expect the recently relatively high gold volatility to even out somewhat,” refiner Heraeus said, according to the FastMarkets report. “Further developments in price will, as such, depend on how things evolve on the sovereign debt crisis front of a large number of nations.”
iShares Silver Trust
Full disclosure: Tom Lydon’s clients own SLV and GLD.