Investors furiously bought silver in recent days, but prices remain subdued—for now.
Silver holdings in the iShares Silver Trust (NYSE Arca: SLV) were unchanged on Thursday, after spiking a whopping 18.4 million ounces on Wednesday. The one-day increase was only slightly less than the 20.8 million ounces that the fund added in the 12 months prior to Wednesday.
For added context, silver holdings across all silver exchange-traded funds increased by 59.4 million troy ounces over the last 12 months (excluding Wednesday). Including Wednesday’s spike, holdings were up 79.4 million ounces over the past year.