Silver prices reside just over $21 an ounce, but Goldman Sachs sees that number falling to $19.60 in a year, according to Bloomberg. Still, holdings in silver ETFs have increased this year even as investors have not been shy about pulling capital from gold funds. [Why Silver ETFs Have Underperformed Gold]
It is widely expected that the Fed will reduce its $85 billion in monthly bond purchases to $75 billion following the meeting next week. Any surprise on that front that is seen as good news for the U.S. dollar will likely turnout to be bad news for dollar-denominated commodities such as gold and silver.
iShares Silver Trust
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of GLD.
