iShares Silver Trust (SLV.US) is an exchange-traded fund (ETF) that aims to track the performance of the price of silver. With a market capitalization of $10.99 billion as of July 31, 2023, the ETF is managed by BlackRock, one of the world's largest investment management firms. It was established in April 2006, providing investors with a convenient way to gain exposure to the silver market without directly owning physical silver.
The ETF holds physical silver bullion as its underlying asset, and its share price reflects the movements in the price of silver. The ETF has attracted significant interest from investors looking to diversify their portfolios and hedge against inflation and economic uncertainties. As an ETF, it offers liquidity and transparency for investors seeking silver exposure.
Since its inception in 2006, iShares Silver Trust has consistently been viewed as one of the best ways for investors to gain exposure to silver bullion. Within the past five years, the ETF has experienced both highs and lows, with its share price changing in response to various external factors.
The lowest price the ETF reached was $10.86 in March 2020 when the COVID-19 pandemic hit global markets On the other hand, the ETF's price surged to a record high of $27.98 per share in February 2021.
To analyse such ETFs, traders may rely on several strategies such as Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator, and many more. For example, the MACD allows traders to identify trends, momentum, and potential reversal points. The RSI provides an indication of the overbought or oversold condition, while the Stochastic Oscillator helps in identifying momentum shifts.
If you're thinking about trading in iShares Silver Trust, then you need to evaluate the competition first. After all, there are dozens of other options available, including silver mining companies, commodities businesses, and FTSE indexes that are heavily influenced by silver prices. They include:
- BHP Group Ltd (BHP.US) is an Australian multinational mining company and one of the largest diversified natural resources companies globally. It operates across various commodities, including silver, iron ore, copper, coal, and petroleum.
- Rio Tinto Group (RIO.US) is a British-Australian multinational mining company, specializing in silver, iron ore, aluminum, copper, diamonds, and other minerals. It is one of the world's leading mining companies with a significant global presence.
The above companies mine and produce numerous commodities, including silver, so their stock prices are closely tied to the fortunes of the silver market.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying asset.