Silver ETFs Pop on Precious Metal’s Sustained Rise

Jacob Harper |

While gold takes the headlines, silver has experienced a surge of its own this summer, and has actually had a stronger season than its yellow counterpart. While investors often flock to gold in times of uncertainty – and the crisis in Syria coupled with tapering fears has created just such a scenario – silver gains on the strength of the global economy. With strong trade numbers out of China and an overall recovery from the financial crisis occurring worldwide, silver is rebounding nicely.



Silver is also rising on increased demand for silver jewelry out of India. Sudheesh Nambiath, an analyst for Thomas Reuters GFMS in Mumbai, said even in spite of India’s recent economic woes he expects demand to increase 20 percent in the country.

The precious metal experienced a major surge from Aug 12-16, with silver slated for Sept. delivery rising 12 percent. That marked silver’s largest weekly gain since Oct. 2011.

Silver for Dec. delivery is up 3.73 percent on the day to hit $24.39 a troy ounce. In kind, silver ETFs have had a nice day and experienced significant gains.

ETFS Physical Silver Shares ($SIVR) was up 3.94 percent to hit $24.06 a share. The popular iShares Silver Trust ($SLV)  was up 4.07 percent to hit $23.52 a share. Proshares Ultra Silver (AGQ) was the big winner on the day, rising 8.05 percent to hit $25.77 a share.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
SGLMF Starhill Global Re Inv Tr 0.54 0.00 0.00 0

Comments

Emerging Growth

MGX Minerals Inc.

MGX Minerals is a diversified Canadian mining company listed on the Canadian Securities Exchange. MGX is engaged in the acquisition and development of industrial mineral deposits in western Canada that…

Private Markets

Quants Inc

Quants, Inc, a California Corporation, develops, markets and operates financial technology platforms and alternative investment products offering sophisticated risk management since 2010. The Company has primarily sharpened its focus with…

iPRO Network, LLC

We provide the platform, tools, and resources to empower individuals and professionals to market desirable goods and services to the public, taking the place of traditional methods of commerce.