Silver ETF surges despite price drop yesterday
Is the silver trade looking to switch back up again?
SLV saw a record amount of daily inflows worth nearly $1.6 billion yesterday (h/t @ daniburgz) despite the 9% drop in silver prices yesterday. That might be a sign that there is still strong appetite for silver despite the retreat after hitting $30 earlier in the week.
For some context, this is how silver prices have matched with SLV holdings in recent years:
Just something to be aware of when factoring in the fundamental landscape to the current technical picture, as buyers are still hanging on at key near-term levels.