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Silver Climbs to Highest Since May After Entering Bull Market

  • Silver ETF holdings are approaching an all-time high
  • `We’re in bull market territory' says TD Securities' Melek
Bloomberg business news

Will Gold Rally as Forecast?

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Silver futures advanced to the highest since May, a day after entering a bull market, as demand for exchange-traded funds backed by the metal approached a record.

Holdings in silver ETFs climbed to 19,904.1 metric tons, nearing an all-time high of 20,182.2 tons reached in 2014. Silver futures have jumped 11 percent this month, among the best performances in the Bloomberg Commodity Index, helped by improving demand prospects for the metal in industrial uses. Aggregate trading on Wednesday was more than double the 100-day average for this time.