Published on 8 Apr 2024 on etf.com via Yahoo Finance
Silver ETFs Topped All Funds Last Week on Hedge Demand
ETF Investing Tools
Silver and silver mining ETFs were last week's top performing exchange-traded funds, surging as investors bought hedges on concerns that interest rates would likely not be cut as much as hoped this year.
The pace was set by the $193 million iShares MSCI Global Silver and Metals Miners ETF (SLVP), which gained 8.3%, which compares to a 12.3% one-week gain for the spot price of silver. The S&P 500, by comparison, fell less than 1% last week, as measured by the SPDR S&P 500 ETF Trust (SPY).