Investors’ frenzied piling into gold (GLD) and silver (SLV) over geopolitical risks has pushed the price of silver to record highs. However, it has also brought trading volume in exchange-traded funds (ETFs) in the precious metal within striking distance of the benchmark SPDR S&P 500 ETF (SPY).
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On Monday, the iShares Silver Trust (SLV) generated almost $40 billion in turnover. This brought the daily volume very close to the same turnover seen in the SPDR S&P500 ETF.
This comes as silver has seen a massive rally this year. The price of the precious metal has jumped about 50% since the start of the year.
Wall Street Backs Higher Prices
Meanwhile, Wall Street remains upbeat about both precious metals. For instance, investment banking giant Citi has said it sees more upside for silver in 2026.
Citi projects the shiny metal to reach $150 per troy ounce within three months, indicating about a 39% from upside potential from current levels. This is even as the metal staged a historic rally in 2025, soaring 144%.
Deutsche Bank has also upped its price forecast for gold by 28% and now expects the price per ounce to reach $6,000 by the end of 2026.
Is SLV a Good ETF to Buy?
The TipRanks Technical Analysis tool indicates that SLV is a Buy based on six Bearish, one Neutral, and 13 Bullish signals seen over the past month.
