Wednesday, May 11, 2011

Silver ETFs (DBS) (SIVR) (AGQ) (SLV) (SIL) Trade Mixed as Silver Jumps Again

Shares of silver ETFs PowerShares DB Silver (NYSEArca:DBS), Physical Silver (NYSEArca:SIVR), ProShares Ultra Silver (NYSE:AGQ), iShares Silver Trust (NYSE:SLV) and Global X Silver Miners ETF (NYSE:SIL) closed mixed Tuesday, as silver closed in positive territory.

With silver miners mostly trading down on Tuesday, the Global X Silver Miners ETF (NYSE:SIL) was also down, with the rest of the ETFs listed above closing in positive territory.

Silver also extended its rebound, with the July contract gaining $1.37, or 3.7 percent, to $38.47 an ounce.

Gold for June delivery added $13.70, or 0.9%, to $1,516.90 an ounce on the Comex division of the New York Mercantile Exchange.

Separately, HSBC Global Research boosted its average price estimate for gold, silver and platinum.

HSBC raised its gold price projection to $1,525 an ounce from $1,450 an ounce this year, and to from $1,300 $1,500 for 2012.

For silver, the bank sees it averaging $34 in 2011, up from a previous estimate of $26, and from $20 $29 in 2012.

Platinum is seen closing 2011 from $1,750 to $1,850, according to HSBC, and ending 2012 at $1,750 from $1,650.

For palladium, HSBC sees it averaging $825, from $750, in 2011, and $750 from $650 in 2012.

iShares Silver Trust (NYSE:SLV) closed at $37.52, down $0.54, or 1.46 percent.

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