Silver ETF holdings soar, Buy rating on SLV, SIVR

Holdings in Silver ETFs have soared to the highest levels since April on positive sentiments in precious metals market, according to analysts.

Platts rpoerted that Silver held by the world's largest silver ETF-iShares Sivler Trust from US fund provider BlackRock- has risen to 10,555.70 mt, the highest amount since early April.

ETF Securities Ltd has said that the amount held by silver ETFs now accounts for about 83% of 2012 silver mine production.

Apart from SLV, ETFS Physical Silver Shares (SIVR) has also performed well in recnet weeks rising over 21%. Bullish speculators in the silver futures market have helped boost previously downtrodden silver ETFs. Long positions held by non-commercial traders — which include speculative investment funds — rose by 363 contracts in the week ending August 20 to 37,308 contracts.

Read More: www.bullionstreet.com/news/silver-etf-holdings-soar-buy-rating-on-slv-sivr/5442