The largest ETF that invests in silver has rallied 20% in August to handily outperform gold prices.

The iShares Silver Trust (NYSEArca: SLV) is up 20.1% for the month, compared with a gain of 6.2% for SPDR Gold Shares (NYSEArca: GLD). [Silver ETFs Leading August Surge in Precious Metals]

The outperformance of silver is a bullish sign for precious metals, writes Hubert Moolman at SilverSeek.

However, the silver ETF was on track for a loss this week after rising the past three weeks. [Silver ETFs Getting Help From Speculators]

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