Silver exchange traded funds fell more than 5% and dropped along with stocks on reports investors were unloading winning investments to raise cash to meet margin calls on Thursday.

The iShares Silver Trust (NYSEArca: SLV) was down 5.5% in afternoon trading.

Gold ETFs were also in negative territory after rising earlier in the session.

SPDR Gold Shares (NYSEArca: GLD) slipped 0.4% at last check.

The precious metals ETFs are backed by bullion held in vaults and let investors trade the price of silver and gold.

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