“SLV, like GLD, has run into some resistance recently around its moving averages, notably bumping up against its 50 day moving average yesterday before giving back some gains and quickly reversing,” he added.
The silver ETF fell Wednesday but is outperforming gold with a gain of 17.2% so far this year through Tuesday’s close. [Silver ETFs Stall]
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD and SLV.