Investors are hoarding silver as prices fall. Holdings in exchange-traded products jumped 846 metric tons in March, set for the biggest monthly gain since 2013, to the highest since April. At the same time, prices are at the lowest in almost a month. Continued fund buying shows longer-term investors haven’t been put off by recent price declines, said Ole Hansen, head of commodity strategy at Copenhagen-based Saxo Bank A/S.

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