Silver Bulls Are Buying-The-Dip As ETFs Gain Most Since 2013

Share This Article
March 30, 2016 4:08pm NYSE:GDX NYSE:GDXJ

silver 600X300The recent weakness in Silver has done nothing to dissuade precious metal ‘hoarders’ from buying-the-dip. 


Silver ETF holdings rose 846 metric tons in March (so far) – the biggest jump since August 2013 – to the highest since April 2015.

 

And all of this buying has occurred as prices dropped to one-month lows, as it seems – like China and Russia – taking advantage of lower precious metal prices amid the collapse of central bank credibility around the world.

 

Continued fund buying shows longer-term investors haven’t been put off by recent price declines, said Ole Hansen, head of commodity strategy at Copenhagen-based Saxo Bank A/S.

However, we do note that commercial hedgers are the most-hedged in 10 years.

Charts: Bloomberg

This article is brought to you courtesy of Tyler Durden From Zero Hedge.


Read Next



Get Free Updates

Join over 50,000 investors who get the latest news from ETFDailyNews.com!

Most Popular


From Our Partners


Explore More from ETFDailyNews.com

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again!

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories