Silver ETFs were this week’s top performers in the commodity markets with gains of more than 4% as investors pumped about $600 million into the largest fund tracking the metal.
The iShares Silver Trust (SLV) has gathered inflows of more than $600 million this week, which represents approximately 6% of the assets under management in the fund, to lead all ETFs. The silver ETF is testing its 50-day simple moving average. [Silver ETF Inflows]
In stock ETFs, SPDR S&P 500 Retail (XRT) was the most popular fund this week with inflows of more than $500 million, according to IndexUniverse data. [Retail Sales Lift Sector ETF to All-Time High on Heavy Volume]
In the major U.S. equity indices, the S&P 500 rose to a five-year high and was on track for a weekly gain of 0.5% in afternoon trading Friday. The Dow added 0.8% and the Nasdaq Composite was flat for the week.
In next week’s economic data, look for housing reports on new and existing home sales. Markets are closed Monday for Martin Luther King Jr. Day.
iShares Silver Trust
Full disclosure: Tom Lydon’s clients own SLV.
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.