With precious metals prices soaring this week, month, and year on the back of flailing Fed credibility, it is not entirely surprising that assets in exchange-traded funds backed by silver have swelled as investors seek a haven from global economic and political risk. In fact, as of today, Silver ETF holdings have never been higher...
As Bloomberg adds,
Prices of the white metal have advanced 28 percent in 2016, outperforming gold.
“Silver was essentially forgotten by much of the investment community for a long time, thereby creating a great value opportunity,” said Gregor Gregersen, chief executive officer and founder of Singapore-based Silver Bullion Pte.
It appears that the demand for physical holdings in the ETFs has accelerated notably faster than the price has been allowed to rise.