Fawad Razaqzada, market analyst at Forex.com and City Index, also pointed out that silver has significantly outperformed gold’s post-Brexit gains as silver, unlike gold, “has also many industrial uses and so when base metals like copper rally, silver benefits from this source, too.”

[related_stories]

Moreover, the U.S. dollar, which typically has an inverse relationship with precious metals prices, declined Friday. The U.S. Dollar Index, which tracks the U.S. dollar’s movement against a group of major foreign currencies, dipped 0.2% to 95.7 – it was the dollar’s third decline in the past four days.

Related: Attractive Fundamentals Could Further Support Precious Metals ETFs

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:

  • Global X Silver Miners ETF (NYSEArca: SIL)
  • iShares MSCI Global Silver Miners Fund ETF (NYSEArca: SLVP)
  • PureFunds ISE Junior Silver ETF (NYSEArca: SILJ)

For more information on the silver market, visit our silver category.