Bad Things are Happening to Silver ETFs

There is plenty of attention being paid to gold’s slide below $1,200 per ounce and the yellow metals dangerous flirtation with the $1,180 an ounce level, which would represent a four-year low.

That also means silver is being taken to task. To this point in Thursday’s trading session, 20 exchange traded funds have touched new 52-week lows, three of which are physical silver funds. The motley crew is comprised of the iShares Silver Trust (NYSEArca: SLV), ETFS Physical Silver Shares (NYSEArca: SIVR) and the Sprott Physical Silver Trust (NYSEArca: PSLV).

Entering Thursday, SLV and SIVR were down 4.4% over the past month, losses that were more than triple the 30-day tumble for the SPDR Gold Shares (NYSEArca: GLD). Today, SLV is off 3.5% on volume that is already 50% above the daily average. SIVR is off 3.6% on double the average turnover. [Dangerous Bargains With Silver ETFs]

The list of silver ETF offenders does not end with SLV and SIVR. Including PSLV, 16 ETFs have hit new all-time lows today with six being silver funds. A trio of silver miners ETFs – the Global X Silvers Miners ETF (NYSEArca: SIL), PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF (NYSEArca: SILJ) and the iShares MSCI Global Silver Miners ETF (NYSEArca: SLVP) – joined the new all-time low club today. [Don’t Forget These Mining ETFs]

The average 30-day loss for those three ETFs is nearly 13%. What is interesting though arguably not predictable is that some investors have had the good sense to depart silver ETFs. Throughout much of this year and in years past, investors have stuck by silver ETFs, such as SLV, even while departing gold funds. That has not been the case this month as SLV has bled $113.1 million in assets. [Daring Buy Silver ETFs]