However, there is evidence that some investors are playing with fire when it comes to silver ETFs. SIL has gained $9.2 million in new assets and, in an utterly vexing situation, the ProShares Ultra Silver ETF (NYSEArca: AGQ) has also added more than $9 million since Oct. 1 while theProShares UltraShort Silver (NYSEArca: ZSL) is lighter by almost $5.2 million.

The problem with that is AGQ came into today with an October loss of almost 9% while ZSL was up 7.2%. If its current gains for the day hold or increase, ZSL will have doubled its October performance just today as it is up 7.4% on heavy volume.

iShares Silver Trust

Tom Lydon’s clients own shares of GLD.

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