Silver ETFs, Miners Surge Following QE2
Source: MarketWatch (11/5/10)
"Silver ETF up 18% against SPDR's 5.1% increase."
According to Dow Jones newswires, the price of silver is trading near 30-year highs, and for the last month it has easily outperformed Gold. Silver ETFs represent an easy way for an investor to gain exposure to the silver price without having to store the actual bars of silver. Over the last month the iShares Silver Trust ETF has risen over 18% while SPDR Gold Shares—the world's largest Gold ETF—has only risen around 5.1%.
While the recent QE2 announcement gave silver a nice short term bump, there are some headwinds for this metal. The bears argue that the recent Republican win in the congressional elections will cause a long term dollar rally, and squash the precious metals market.
With Silver prices surging to their highest levels in thirty years, investors have turned their attention to silver miners.