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.

ETFs (SLV) (DBS) (SIVR) (AGQ) (SIL) Getting Crushed

Shares of silver ETFs iShares Silver Trust (NYSE:SLV), PowerShares DB Silver (NYSE:DBS), Physical Silver (NYSE:SIVR), ProShares Ultra Silver (NYSE:AGQ) and Global X Silver Miners ETF (NYSE:SIL) like are taking a beating today as the price of silver plunged again as the silver market continues to be volatile.

ProShares UltraShort Silver (NYSE:ZSL) on the other hand is soaring, climbing to $21.78, up $2.99, or 15.93 percent, as of 2:15 PM EDT.

Silver futures prices were down 7.3 percent $35.660 per troy ounce on the Comex division of the New York Mercantile Exchange.

The most actively traded gold contract, for June delivery, was recently down $14.60, or 1%, at $1,502.30 per troy ounce.

iShares Silver Trust (SLV) was trading at $34.38, falling $3.14, or 8.37 percent, as of 2:19 PM EDT. PowerShares DB Silver (DBS) was at $61.61, down $5.81, or 8.62 percent. Physical Silver (SIVR) was trading at $35.09, dropping $3.17, or 8.29 percent. ProShares Ultra Silver (AGQ) was at $181.72, plunging $38.68, or 17.55 percent. Global X Silver Miners ETF (SIL) was at $23.75, down $1.84, or 7.19 percent.

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.

Silver ETFs (DBS) (SIVR) (AGQ) (SLV) Crushed as Silver Drops

Silver ETFs PowerShares DB Silver (NYSE:DBS), Physical Silver (NYSE:SIVR), ProShares Ultra Silver (NYSE:AGQ) and iShares Silver Trust (NYSE:SLV) got hit hard Thursday as gold and silver prices continued their fall.

One exception was ProShares UltraShort Silver (NYSE:ZSL), which ended the trading session up again, closing at $24.34, gaining $4.89, or 25.14 percent. A number of commodity ETF shorts have been soaring during the commodity correction.

The silver contract for May delivery closed 8 percent lower, down $3.152, at $36.231 per troy ounce.

Since the Friday settlement price silver has plummeted 25 percent.

Gold for May delivery, the front-month contract, ended the trading session Thursday down $34, or 2.2 percent, at $1,480.90 per troy ounce on the Comex division of the New York Mercantile Exchange.

The U.S. dollar was also up, adding pressure to the two precious metals, as it gained 2 percent against the euro. That came largely from European Central Bank President Jean-Claude Trichet who suggested there will no interest-rate boost in the near future.

Nothing has changed the underlying fundamentals for gold or silver though, and this is just a healthy correction before gold and silver prices begin moving up again.

As long as easy money policies continue by the Federal Reserve and interest rates remain near zero, there is nothing to stop gold and silver prices from continuing to rise.

Inflation, political unrest, sovereign debt crisis and the collapsing U.S. dollar will also play a major role over time for gold and silver prices.

One of the hardest hit silver ETFs was ProShares Ultra Silver (AGQ), which closed Thursday at $179.34, falling $54.86, or 23.42 percent.

Silver ETFs (DBS) (SIVR) (AGQ) (SLV) Trade Down as Silver Takes Beating

Even though silver miners closed mixed on Wednesday as silver prices again got pummeled, that wasn't the case for silver ETFs PowerShares DB Silver (NYSE:DBS), Physical Silver (NYSE:SIVR), ProShares Ultra Silver (NYSE:AGQ) and iShares Silver Trust (NYSE:SLV), which all closed down big on the day.

ProShares UltraShort Silver (NYSE:ZSL) continued to soar in line with the movement of silver prices, jumping to close at $19.45, up $1.94, or 11.07 percent.

The ongoing plunge in silver prices also pressured other commodities Wednesday as investors sold holdings to take money off the table after weeks of prices rising in the sector.

Silver dropped $3.197, or 7.5 percent, to settle at $39.388 an ounce. That's the third straight day of losses after silver approached the elusive $50 an ounce mark last week.

Silver for July delivery dropped $2.820, at $39.765 per troy ounce.

Despite silver's three-day fall, the price is still 27.3 percent higher on the year.

Gold for June delivery, the most actively traded contract, fell $25.10 to $1,515.30 an ounce.

The U.S. dollar index lost 0.15 percent to $73.01.

ProShares Ultra Silver (AGQ) closed Wednesday at $234.20, falling $30.77, or 11.61 percent.

ProShares UltraShort Silver (ZSL) Jumps on Silver Plunge

With silver plunging from almost $50 an ounce to under $40 an ounce, ProShares UltraShort Silver (NYSE:ZSL) has been soaring after getting clobbered for a long time.

Shares of ProShares UltraShort Silver were trading at $13.43 on April 28th, and have surged to $19.14, a gain of $1.63, or 9.30 percent, as of 2:31 PM EDT.

Trading volume was up over 6 times the 3-month daily average of 6,603,450. It's almost reached a volume of 40 million for the day.

iShares Silver Trust (NYSE:SLV) was trading at $38.89, falling $1.69, or 4.16 percent, as of 2:35 PM EDT. PowerShares DB Silver (NYSE:DBS) was trading at $69.69, down $3.24, or 4.44 percent. ETFS Physical Silver (NYSE:SIVR) was at $39.53, dropping $1.84, or 4.45 percent. ProShares Ultra Silver (NYSE:AGQ) was trading at $241.38, plunging $23.59, or 8.90 percent.

How (DBS) (SIVR) (ZSL) (AGQ) (SLV) Performed as Silver Continues to Fall

Shares PowerShares DB Silver (NYSE:DBS), Physical Silver (NYSE:SIVR), ProShares Ultra Silver (NYSE:AGQ) and iShares Silver Trust (NYSE:SLV) were all plunging on Tuesday, along with the price of silver, while ProShares UltraShort Silver (NYSE:ZSL), as expected, continues to climb.

Silver plunged another $3.49 Tuesday to settle at $42.576 per troy ounce on the Comex division of the Nymex. In after hours trading the price almost dropped below $40 an ounce.

Much of this has been the result of he decision by the CME Group to raise margin requirements by 11.6 percent, starting at the close of market on Tuesday.

To buy a 5,000 ounce contract, silver traders will now have to put up $16,200.

Leverage traders cut their silver positions over the last couple of days, driving the price of silver down. Expectations are silver could bottom out as about $38 if there's more leverage abandoning the market.

Other than some speculation, other reasons for the boost in silver prices include the collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening inflation and consequences of the Japanese earthquake. India also raised its interest rates unexpectedly on Tuesday, putting some downward pressure on gold and silver as well.

ProShares UltraShort Silver (ZSL) closed Tuesday at $17.51, gaining $1.61, or 10.14 percent. ProShares Ultra Silver closed at $264.97, dropping $31.53, or 10.63 percent.

Silver ETFs (SLV) (ZSL) (SLV) (AGQ) Plunge as Silver Corrects

Shares of ProShares Ultra Silver (NYSE:AGQ) and iShares Silver Trust (NYSE:SLV), PowerShares DB Silver Fund (NYSE: DBS) and ETFS Physical Silver Shares (NYSE: SIVR) got hammered as silver prices plunged Monday. ProShares UltraShort Silver (NYSE:ZSL) soared, as it's a play for investors when silver is dropping in price.

Silver prices for July lost $2.51 to settle at $46.08 an ounce, after getting crushed 13 percent, as it fell as low as $42.20.

Gold for June delivery jumped 70 cents Monday to settle at $1,557.10 an ounce at the Comex division of the New York Mercantile Exchange. After losing 2.5 percent to drop to $1,540.30, the yellow metal rebounded to $1,577 an ounce.

The U.S. dollar index changed directions after an rally early in the trading session Monday and was down 0.09 percent at $72.96. The U.S. dollar index was fell almost 4 percent in April and is struggling to keep from breaking below its record low of $71.

It is surprising to see gold and silver pressured, as in April gold was up 8.92 percent and silver a whopping 28.72 percent.

One piece of financial information somewhat ignored Monday because of the hoopla surrounding the death of Osama bin Laden, was the manufacturing report concerning China in April which showed production had slowed down during the month. That should help the price of gold and silver going forward.

ProShares Ultra Silver closed Monday at $296.50, falling $62.46, or 17.40 percent.