ETF Bargain Hunters Load Up on iShares Silver on Price Slump
- Investors added 2.93 million ounces of metal to ETF holdings
- China silver imports surge 42 percent in March: customs data
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Silver may be down, but the return of ETF investors suggests it’s not out.
On Wednesday, as prices of the metal were heading for a seventh straight loss, the worst streak since 2015, investors added 2.93 million ounces of the metal to their holdings in iShares Silver Trust, the biggest daily purchase in six months, data compiled by Bloomberg show. Money is pouring into the largest exchange-traded fund backed by the metal days after U.S. government data showed hedge funds retreating from record bullish bets on silver.