For instance, China’s economy stabilized in the first quarter as its economy expanded 6.7% year-over-year, fueling speculation that industrial demand won’t slow. Over 50% of global demand for silver comes from industries like chemicals, medicine and technological appliances.
“The market has spotted a shiny gem among the stones and is trying to capitalize on the fact that silver historically has very sharp moves,” Tai Wong, the director of commodity products trading at BMO Capital Markets, told Bloomberg. “The rally in base metals is also helping silver specifically, given its significant industrial applications.”
Comex silver futures were up 0.6% Tuesday to $17.1 per ounce.
Investors who are interested in following the silver asset have a number ETF options available.
Silver ETFs and ETN include:
- ETFS Physical Silver Shares ETF (NYSEArca: SIVR)
- iShares Silver Trust ETF (NYSEArca: SLV)
- Powershares DB Silver Fund ETF (NYSEArca: DBS)
- ETRACS CMCI Silver TR ETN (NYSEArca: USV)
Leveraged silver ETFs:
- ProShares Ultra Silver ETF (NYSEArca: AGQ)
- VelocityShares 3x Long Silver ETN (NYSEArca: USLV)
- ProShares UltraShort Silver ETF (NYSEArca: ZSL)
- VelocityShares 3x Inverse Silver ETN (NYSEArca: DSLV)
Silver miner ETFs: