Largest Silver ETF Inflow Ever Last Week
Silver has peaked out from behind the $32 price to run throughout Tuesday to $32.24. Silver has worked its way to the top of the YTD performers for 2013, as well. Just a week ago, silver was buried behind a long list of better performers leading to last week holding on the largest silver ETF inflows ever.
|
|
 |
|
Silver now trails pork bellies and platinum.
In the past couple of weeks, silver has tore 8% northward, leading investors to start investing in silver en masse. Not only has the US Mint recently announced the suspension of their silver eagle program, but also reports about the iShares Silver Trust ETF (NYSE: SLV) has seen the biggest inflows of any exchange traded fund this week, adding $600 million to its assets under management tally. IShares manager BlackRock (NYSE: BLK) confirmed with Bloomberg that this was the largest increase in the silver ETF’s assets ever.
iShares Silver Trust
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.
