Over the past 10 years, only one ETF has been positive in January more frequently than SLV and the silver ETF has been the best-performing commodity in the first month of the year over those 10 years. During that period, SLV was one of the best non-leveraged ETFs in the first month of the year.
“Silver has an industrial component, and industrial metals have been ‘weighed down by slowing global growth concerns,’ said Daniel Ghali, a TD Securities commodities strategist. For today, you would expect a ‘boost to prices because of increasing hopes of a U.S.-China trade deal. But there’s still loads of inventory weighing on the metal’s price,’” reports Bloomberg.
Investors have pulled $139.27 million from SLV this year.
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