As investors are accustomed to seeing with gold miners ETFs when the yellow metal jumps, silver miners ETFs are participating in today’s silver rally. The Global X Silvers Miners ETF (NYSEArca: SIL) is up 4.5% on more than double the average daily volume while the PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF (NYSEArca: SILJ) is higher by almost 4% on turnover that is nearly 50% above average.

SIL and SILJ have room to run to back to get back to their 200-day lines as the ETFs reside 5.9% and 12.1%, respectively, below that important moving average.

In the more mainstream demand side, silver jewelry demand is still rising due to increased consumption among emerging markets, notably in China where we are seeing a rising middle class with increased discretionary money. [Perhaps a Boost for Silver Miners ETFs]

Silver Futures Chart

Chart Courtesy: Kimble Charting Solutions

ETF Trends editorial team contributed to this post.