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.