The response to silver flirting with $20 per ounce and SLV trading at its highest levels since March is palpable. SILJ is Thursday’s top-performing non-leveraged ETF. The Global X Silvers Miners ETF (NYSEARca: SIL) and the iShares MSCI Global Silver Miners ETF (NYSEArca: SLVP) are the third- and fourth-best ETFs to this point in the day.

With Thursday’s gains, SIL is up 22.3% this month while SLVP is higher by 17.3%.

“With less future silver production in the pipeline, if demand was to continue or increase, the potential upside to silver price due to a supply crunch becomes even stronger. We cannot pretend to know the true reason silver prices have been below this important all-in cost level for so long, but we do know that commodities cannot be sold below the cost of production forever,” added PureFunds. [Small Silver ETFs Grows Up]

PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF

Tom Lydon’s clients own shares of GLD, JNUG and SLV.

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