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ETF Trends reported that although the price of silver is falling, the holdings of silver exchange-traded funds (ETFs) continue to increase.
ETF Trends reported that although the price of silver is falling, the holdings of silver exchange-traded funds (ETFs) continue to increase.
As quoted in the market news:
‘The tonnage of silver bullion held by the world’s six largest silver ETFs increased by 104 tonnes, or 0.6 percent, to a record 17,135.04 tonnes on Friday,’ reports Frank Tang for Reuters. As Reuters notes, the uptick in holdings at silver ETFs was led by a 1% for SLV.
For the month ended Sept. 12, SLV added almost $285 million in new assets, almost dollar-to-dollar with the $280.4 million investors pulled from GLD, the largest gold ETF. SIVR has added nearly $2 million in new assets over the same period.