South Africa is the world’s largest platinum producer and the second-largest palladium producer behind Russia. [Platinum Metals ETFs Look Healthy]

The iShares Silver Trust (NYSEArca: SLV) and the ETFS Physical Silver Shares (NYSEArca: SIVR) have each traded slightly lower over the past month, but waning silver volatility could be a sign the metal is poised to rally.

“Multi-year lows in volatility could suggest the market is ripe for sharp move. Supporting a potential price recovery, the most recent data on Chinese demand indicated a 22% yoy increase in Q1 silver imports — the largest quarterly gain since Q2 2010,” said ETF Securities.

SPDR Gold Shares

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of GLD and SLV.