China has proven to be the strongest driving force for the metals’ rise in demand. Industrial use of silver has skyrocketed due to the rapid growth that China is pacing. Investors are also bringing silver to the forefront, as gold currently costs 50 times more than silver. [Copper and Silver ETFs Hit by Position Limits]
In April, silver reached an all-time high of $50.35 per ounce, riding on the coattails of gold.
ETFs have also been a driving force in the rise of popularity of silver. They have made the metal easy to access for any investor, and do not require physical delivery or insurance. They include:
- iShares Silver Trust (NYSEArca: SLV)
- Sprott Physical Silver Trust (NYSEArca: PSLV)
- ETFS Physical Silver Shares (NYSEArca: SIVR)
- Powershares DB Silver Fund (NYSEArca: DBS)
Powershares DB Silver Fund
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own SLV.