- Silver ETFs found themselves among Monday’s worst-performing exchange traded funds as precious metals continued to feel the effects of last Friday’s positive jobs reports.
- In the most recent FOMC statement, Chairman Powell hinted at the importance of the jobs market. Once positive jobs data came through on Friday the dollar spiked and it sent the inversely corelated precious metals south.
- Silver, which dropped to as low as $22.50 per ounce intraday, finished at $23.41-- down a total of 6.83% between Friday and Monday’s trading sessions:
- Here's a look at five silver ETFs that slipped to the downside on Monday, and are also down from a YTD viewpoint:
Silver-Mining ETFs
- The PureFunds ISE Jr Silver (Sm Cap Miners/Expl) ETF has felt the selling pressure recently, losing 4.58% Monday and15.70%YTD.
- SILJ aims to invest in equities operating across the silver industry, as well as the precious-metals and materials, metals and mining sectors. The ETF has $863M in assets under management and a 0.69% expense ratio.
- Another ETF in the silver-mining sector that’s comparable to SILJ is the Global X Silver Miners ETF, which closed Monday -3.80% and is -11.16% YTD.
Spot-Silver ETFs
- Spot-silver exchange traded funds are ETFs that either buy actual silver or invest in the silver-futures market.
- The Shares Silver Trust is the largest pure-play silver fund, backed by $13.44B in assets under management. The ETF closed-3.42%Monday and is down 8.34% YTD.
- Other spot silver funds that are similar include the Global X Silver Miners ETF(NYSEARCA:SIVR), which closed -3.45% Monday and is -8.22% YTD.
- There's also the Sprott Physical Silver Trust, which ended the day -3.39% and is-8.46%YTD.
Gold Isn't Glittering
- Silver isn't the only precious metal that has slid recently. Gold dipped below $1,700 an ounce Monday before regaining some of its recent losses, but still finishing the session broadly in the red.
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