Silver News | ETF Securities Has Record 20 Million Ounces of Silver to Back Up ETF Commodity

Silver News

ETF Securities said on Thursday the amount of metal it holds to back its silver exchange-traded commodity rose to a record 20.064 million ounces on June 3, while its palladium holdings also hit an all-time high.

ETFS Physical Silver (PHAG.L) has added 2.3 million ounces or 12.7 percent to its holdings in the last month, according to data released by the company.

Holdings of its ETFS Physical Palladium product meanwhile rose 13,677 ounces on Wednesday, lifting them 4.7 percent to a record 304,635 ounces.

Exchange-traded funds, which issue securities backed by physical stocks of a particular metal, have represented a major source of demand for precious metals in recent years.

Silver News

iShares Silver Trust Bullion Increases by 30.69 Tons on December 26

iShares Silver Trust (SLV) increased its physical bullion holdings by 30.69 tons on December 26, the highest level since the latter part of October.

The iShares Silver Trust fund is the largest ETF backed by silver in the world. They now have a total of 6,792.99 tons of bullion on hand, against the 6,762.3 tons they had on December 24.

Since the early part of December, silver tonnage held by the trust is up 1.5 percent or 106.24 tons.