There’s no question that gold prices are having a moment. But there’s another metal doing even better.
Silver is proving to be a metal worth watching even as all eyes are on gold. The iShares MSCI Global Silver & Metals Miners ETF (SLVP) is the top-performing actively traded sector fund this year, up 141.2%, says Morningstar Direct. That edges out even the No. 1 gold miner ETF, VanEck Junior Gold Miner ETF (GDXY), up 139.7%.
But it’s not just the miners’ shares that are standing out. Silver is a champ on a commodity level, too. Abrdn Physical Silver Shares ETF (SIVR) is up 67.9% this year. That outperforms even the top non-leveraged gold ETF this year, iShares Gold Trust Micro (IAUM), up 50.9%.
What’s Driving The Precious Metals Boom: Gold And Silver?
Mayhem in Washington is setting up the perfect environment for precious metals. Investors want the security of tangible assets.
“The latest leg higher has been underpinned by the growing uncertainty over the U.S. government shutdown and fear-of-missing-out flows into physical gold ETFs,” said Adam Turnquist, chief technical strategist for LPL Financial. “A macro backdrop consisting of a weaker dollar, the resumption of the rate-cutting cycle, U.S. deficit concerns, tariff-related inflation angst, and steady foreign central bank buying have also supported the yellow metal’s 50% rally this year.”
Turnquist is bullish on silver going forward. “We recommend adding exposure on weakness given the degree of overbought conditions. Silver could also be another option in the space as it continues to gain relative strength over gold,” he said.
Rounding Out Other Precious Metals Champs Like Silver
And it’s not just silver giving gold a run for its money this year. Platinum is also strong.
GraniteShares Platinum Trust (PLTM) is up nearly 80% this year. That, too, outstrips the gold ETF’s performance. The top sector ETF is gold-related WisdomTree Efficient Gold Plus Gold Miners Strategy ETF (GDMN). It’s up an astounding 192% this year. But it accomplishes that leapfrog gain with the use of leverage.
Meanwhile, gold prices just keep surging. They jumped past $4,000 an ounce this week. “Momentum in gold has been unrelenting,” Turnquist said.
Silver And Platinum Shine
Silver is outperforming unleveraged gold ETFs
| Name | Ticker | Market return YTD |
|---|---|---|
| WisdomTree Efcnt Gld Pls Gld Ms Stgy | GDMN | 192.0% |
| GraniteShares Platinum Trust | PLTM | 79.6 |
| abrdn Physical Platinum Shares | PPLT | 78.4 |
| abrdn Physical Silver Shares | SIVR | 67.8 |
| iShares Silver Trust | SLV | 67.3 |
| iShares Gold Trust Micro | IAUM | 50.8 |
| SPDR Gold MiniShares | GLDM | 50.7 |
| GraniteShares Gold Trust | BAR | 50.7 |
| VanEck Merk Gold Trust | OUNZ | 50.7 |
| Goldman Sachs Physical Gold | AAAU | 50.7 |
