Someone has polished up the silver exchange traded funds (ETFs) to a gleaming shine. Silver ETFs and shares of silver-mining companies had a nice spike on Tuesday, thanks to the weakened dollar, according to Thomson Financial on Sharewatch.com.
The iShares Silver Trust (SLV) was up 5.2% and the PowerShares DB Silver Fund (DBS) was also up 4.9%. Both funds hit new heights today. SLV is up 18.9% year-to-date and DBS is up 25.7% since it's inception in January.
December silver futures were looking pretty nice, too, trading up 61.50 cents to $15.40 an ounce. Mining companies were up: Hecla Mining Co.'s (HL)shares rose 10.7% and Pan American Silver Corp. (PAAS) jumped 5.7%.
Meanwhile, the U.S. Dollar Index is showing signs of wear and tear: it hit another all-time low against the euro. Oil also went above $97 per barrel in intraday trading.
November 6, 2007
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