Silver Assets Climb to Record as ‘Forgotten’ Metal Soars
By GCRU Gold News on Friday, June 17 2016, 00:45 - Permalink
Holdings in exchange-traded funds backed by silver swelled to a record as investors sought a haven from global economic and political risk.
Assets expanded 72.6 metric tons to 20,227.2 tons as of Wednesday and have risen 7.3 percent this year, data compiled by Bloomberg show. Prices have advanced 28 percent in 2016, outperforming gold, as investors scale back expectations for increases in U.S. interest rates, benefiting precious metals because they don’t offer yields or dividends.