Commerzbank: Silver ETFs Post Biggest Inflow In Five Weeks

Thursday August 18, 2016 09:46

Silver holdings of global exchange-traded funds posted their largest inflow in five weeks Wednesday, although gold ETFs saw outflows, says Commerzbank. “The gold ETFs tracked by Bloomberg recorded their second noticeable outflow within just a few days, at four tones,” Commerzbank says. “By contrast, silver ETFs saw inflows of nearly 53 tonnes yesterday, their highest daily inflow in five weeks. The silver price is hardly profiting at all from this, however, and is still trading below the $20 per troy ounce mark. Silver has also underperformed gold recently, as can be seen from the fact that the gold/silver ratio has risen to 68.5.”