Silver ETFs' Popularity Provides Stark Contrast to Gold Fallout | ETF Trends

Precious metals got clobbered this year, but investors still trickled into silver exchange traded funds while gold funds saw a record exodus.

Physically backed silver ETFs held 655 million ounces of the metal as of Oct. 31, up 25 million ounces since January, reports Nat Rudarakanchana for International Business Times.

“This contrasts sharply with the liquidation we’ve seen on the gold side, through 2013,” Michael DiRienzo, executive director of silver trade body the Silver Institute, said in the article.

Specifically, physical holdings in gold ETFs shrunk by 806 metric tons in 2013.

“On the investment side, at least for ETFs … there’s a strong appreciation for silver, even at these prices,” DiRienzo added.

For instance, the iShares Silver Trust (NYSEArca: SLV), which holds silver bullion to provide exposure to changes in silver prices, has attracted $261.7 million in assets year-to-date. In contrast, the SPDR Gold Shares (NYSEArca: GLD), which holds gold bullion, saw outflows $23.6 billion in assets so far this year. [Glum Technical News for Gold ETFs]