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]
The amount of silver held in SLV has been rising recently after the ETF saw outflows through most of 2013. [Silver ETF Holdings Highest Since April After 20% Rally]
iShares Silver Trust
Full disclosure: Tom Lydon’s clients own SLV and GLD.
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.