Gold’s struggles are taking a toll on mining ETFs. Over the past month, four of the nine worst-performing non-leveraged ETFs are funds with exposure to gold or silver mining.
Speaking of silver, in a phenomenon that has been seen during previous periods of gold market stress, investors are sticking by silver ETFs. In fact, holdings at global silver exchange traded products are near record highs. Although it plunged 11.2% last month, the iShares Silver Trust (NYSEArca: SLV) added nearly $339 million in new assets. [The Daring are Buying Silver ETFs]
SPDR Gold Shares
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of GLD.