Silver ETFs (SLV) (AGQ) (DBS) (SIVR) (SIL) Soar

Shares of silver ETFs iShares Silver Trust (NYSE:SLV), ProShares Ultra Silver (NYSE:AGQ), PowerShares DB Silver (NYSE:DBS), Physical Silver (NYSE:SIVR) and Global X Silver Miners ETF (NYSE:SIL) jumped Wednesday as silver, gold and the majority of other commodity prices were up on the day.

ProShares UltraShort Silver (NYSE:ZSL) traded down to close at $19.73, losing $1.44, or 6.80 percent. It's down about 65 percent on the year.

The silver contract for May delivery gained $1.61, or 4.8 percent, to $35.10 a troy ounce.

June gold climbed $15.80 to $1,495.80 per troy ounce, a 1.1 percent gain on the Comex division of the New York Mercantile Exchange. The less traded May contract was up $15.80, or 1.1 percent, to $1,495.60 a troy ounce.

A weaker dollar was the major catalyst for gold and silver specifically, and commodities in general on Wednesday.

Benchmark West Texas Intermediate crude for June delivery was up $3.19, or 3.3 percent, to settle at $100.10 a barrel on the New York Mercantile Exchange.

Brent crude rose $2.31 in London, or 2.1 percent, to settle at $112.30 a barrel on the ICE Futures exchange.

The U.S. dollar index, which measures the dollar against a basket of six currencies, traded at 75.438, down a little from 75.441 late Tuesday. That was also a factor in gold and silver prices going up.

Global X Silver Miners ETF (SIL) closed Wednesday at $23.93, gaining $0.49, or 2.09 percent. iShares Silver Trust (SLV) closed at $32.23, up $1.14, or 3.45 percent. ProShares Ultra Silver (AGQ) ended the session at $172.85, soaring $11.39, or 7.05 percent. ETFS Physical Silver (SIVR) closed at $34.89, rising $1.13, or 3.35 percent. PowerShares DB Silver (DBS) ended the day at $61.42, increasing $2.09, of 3.52 percent.