Silver ETF Investors Exit as Bear Market Looms on Rate Concerns
- Investors pull $79 million this month from iShares Silver
- Holdings in all silver ETF slide 2.9 million ounces this month
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With traders pricing in near certainty that U.S. borrowing costs will rise next month, silver investors are heading for the exit.
This month through Thursday, almost $79 million was pulled from iShares Silver Trust, the largest exchange-traded fund backed by the metal. That would be the biggest monthly outflow since January. Holdings in all silver-backed ETF tracked by Bloomberg worldwide fell by 2.9 million ounces, set for the first monthly decline in 10 months.