Investors Continue Piling Into Silver ETFs

From kitco.com

Investors are continuing to pile into silver exchange-traded funds, with ETF holdings since the start of June rising by more than the amount of metal normally mined throughout the world in an entire month, analyst said. “Holdings in silver-backed ETFs surged 818.8 tonnes on Tuesday, the biggest daily increase in data compiled by Bloomberg since 2006,” said commodities brokerage SP Angel. “Investors added to silver ETFs for a 12th straight day, bringing total known assets to a record 18,315 tonnes.” The metal has been outperforming gold lately, as reflected by a declining gold/silver ratio, said Commerzbank. ... (full story)