With the Federal Reserve fully intent on throwing more money into the system, precious metals assets are strengthening, and investors have been particularly voracious in taking on silver and silver miner exchange traded funds.

Usually when silver is outperforming gold, it is a bullish sign for the precious metals complex. Silver has been leading the way recently although the metal stumbled to open the week with a 2% setback Monday morning.

For instance, over the past three months, physically backed silver ETFs jumped 23%, including iShares Silver Trust (NYSEArca: SLV), ETFS Silver Trust (NYSEArca: SIVR) and PowerShares DB Silver Fund (NYSEArca: DBS). [Silver Miners 26% Monthly Rally Leads All ETFs]

Silver prices are hovering around $35 an ounce to the highest level in more than six months.

Silver miners are also strong performers in the third quarter, with the Global X Silver Miners ETF (NYSEArca: SIL) rising 25.4% the past three months and iShares MSCI Global Silver Miners Fund (NYSEArca: SLVP) gaining 22.0%.

In contrast, SPDR Gold Shares (NYSEArca: GLD) added 9.9% and the Market Vectors Gold Miner ETF (NYSEArca: GDX) was 15.0% higher over the same period.

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