NEW YORK (Scrap Register): Silver holdings of global exchange-traded funds posted their largest inflow in five weeks Wednesday, although gold ETFs saw outflows, said Commerzbank.
“The gold ETFs tracked by Bloomberg recorded their second noticeable outflow within just a few days, at four tones,” Commerzbank added.
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.