Luis Alvarez/DigitalVision via Getty Images Listen below or on the go on Apple Podcasts and Spotify Investors rotate from AI to A1 as breadth increases. (0:16) Krispy Kreme and Shake Shack surge on earnings. (1:13) S&P 500 triggers sixth Hindenburg Omen signal. (3:26) This is an abridged transcript of the podcast: Our top story so far, investors are going from AI to A1. Looking at forward valuations, the premium investors were paying for the mega caps has faded — and they’re now willing to pay up for ...

Jane Street disclosed a record 20.7M-share stake in the iShares Silver Trust (SLV) for the last quarter of 2025, becoming the exchange-traded fund's largest holder. Reported in its latest 13F filing, the SLV position represents an increase from just 41.1K shares ...

The price of silver has been highly volatile this year. After a historic rally in 2025 that sent the price of the white metal from about $31 an ounce in January 2025 to $115 an ounce in January of this year, the price of silver plummeted over the first few weeks of February to under $74 an ounce. That's a drop of more than a third from its recent high. Analysts attributed the sell-off to a drop in demand for silver at the higher price level, as well as investor nervousness about the AI boom, which had he ...

SLV Climbs as Reddit Bears Wave the White Flag - 24/7 Wall St.[S&P 5006,887.80 -0.05%][Dow Jones49,157.40 -0.02%][Nasdaq 10024,959.90 -0.08%][Russell 20002,650.61 -0.04%][FTSE 10010,714.00 +0.29%][Nikkei 22558,012.80 +0.14%][Investing]# SLV Climbs as Reddit Bears Wave the White Flag### Quick ReadiShares Silver Trust (SLV) rose 5.16% to $73.32 last week. SLV has gained 145% over one year.SLV climbed despite bearish Reddit sentiment. Traders closing short put positions created forced buying pressure.SLV colla ...

Key TakeawaysSpot silver prices skyrocketed nearly 8% to hit $84.57 per ounce, marking a massive rally in the precious metals sector.St. Louis Fed President Alberto Musalem suggested the economic outlook may remain unchanged if incoming Trump administration tariffs are implemented on a "one-for-one" basis.Spot palladium surged over 4%, climbing to $1,760.35 per ounce amid broader strength in industrial and precious metals.Musalem signaled support for Kevin Warsh as the next Federal Reserve Chair, describing ...

Core Viewpoint - Silver experienced a remarkable surge of 137% from February 2025 to February 2026, raising questions about the sustainability of this rally amidst recent volatility [2][3]. Silver Price Action - Silver's price increased from $29.46 to $69.72, with a notable 17.5% selloff in January 2026 due to Federal Reserve chair speculation [2][3]. - The metal's 137% gain in one year significantly outpaced its 176% return over the past five years, compressing a typical five-year performance into just twelve months [3]. - Silver tested resistance above $71 in early February before experiencing a pullback, with a brief spike to $95 before the January crash [3]. ETF Flows and Investor Sentiment - The iShares Silver Trust (SLV) holds $51.5 billion in net assets and has a 0.5% expense ratio [4]. - Investor sentiment around SLV fluctuated during the January crash, with a recovery to bullish levels (64-68 score range) by mid-February, indicating a repositioning by retail investors [4]. Silver Miners: Leverage to the Metal - Silver mining stocks saw substantial gains, with First Majestic Silver (304%), Hecla Mining (256%), Coeur Mining (211%), and Pan American Silver (135%) [5]. - Mining companies benefited from higher silver prices and operational improvements, but their valuations have increased significantly, with First Majestic at 164x trailing earnings and Pan American at 33x [5]. What's Driving Silver and What's Next - Industrial demand for silver is supported by sectors such as solar panel production, AI infrastructure, and electronics manufacturing, providing structural support for investment speculation [6]. - The volatility in silver prices highlights its sensitivity to dollar strength and Federal Reserve policy expectations, with central bank gold buying indirectly benefiting silver through the gold-to-silver ratio [6].

Core Insights - Gold and silver are significant precious metals, with the iShares Silver Trust (SLV) tracking physical silver prices and the Sprott Gold Miners ETF (SGDM) investing in gold mining stocks [1] Cost & Size - Both SLV and SGDM have an expense ratio of 0.50% - SLV has an AUM of $44.77 billion, while SGDM has $823.11 million [2] - The one-year return for SLV is 137.63%, and for SGDM, it is 149.88% [2][3] Performance & Risk Comparison - Over five years, SLV has a max drawdown of 37.65%, while SGDM has 45.05% [4] - A $1,000 investment in SLV would grow to $2,764, compared to $2,667 for SGDM over the same period [4] Holdings - SGDM, launched 11 years ago, invests in 43 gold mining stocks, with major holdings including Agnico Eagle Mines Ltd., Newmont Corp., and Wheaton Precious Metals Corp. [5] - SLV has been offering exposure to silver for nearly 20 years, holding 100% silver bullion in London [5] Market Context - The current economic climate favors precious metals, as they typically perform better during periods of economic uncertainty, with tariffs and global tensions benefiting gold and silver in 2025 and into 2026 [8] Investment Strategy - Both SLV and SGDM can diversify a portfolio with precious metal-related funds, with the choice depending on investor preference for silver or gold and physical assets versus market-related stocks [9]

Core Insights - The iShares Silver Trust (SLV) and Goldman Sachs Physical Gold ETF (AAAU) provide direct exposure to silver and gold respectively, with significant returns over the past year [2][3] Cost & Size Comparison - SLV has an expense ratio of 0.50% and an AUM of $44.77 billion, while AAAU has a lower expense ratio of 0.18% and an AUM of $3.13 billion [3] - The 1-year return for SLV is 137.63%, significantly higher than AAAU's 73.1% [3] Performance & Risk Comparison - Over the past five years, SLV has a max drawdown of 37.65%, compared to AAAU's 20.94% [4] - The growth of $1,000 invested over five years is $2,764 for SLV and $2,681 for AAAU [4] Market Context - The precious metals market has seen a surge in 2025, with gold and silver prices benefiting from geopolitical and economic tensions [6] - Since the start of 2025, gold prices have nearly doubled, while silver prices have surged by 170% [7] Volatility Considerations - Precious metals are known for their volatility, with silver being twice as volatile as gold, necessitating caution for investors [8] - An example of this volatility is a 27% drop in silver's price in one day on January 30 [8] Investment Opportunities - Both AAAU and SLV are considered effective ways for investors to gain exposure to the precious metals market, provided they are aware of the associated volatility [9]

Core Insights - The Global X - Silver Miners ETF (SIL) and the VanEck Gold Miners ETF (GDX) provide targeted access to mining companies, differing in metal focus and portfolio construction [2][9] - SIL is silver-centric with a higher recent return and drawdown, while GDX is gold-focused, lower cost, and more diversified [1][4] Cost & Size Comparison - SIL has an expense ratio of 0.65% and AUM of $6.2 billion, while GDX has a lower expense ratio of 0.51% and AUM of $30.5 billion [3][4] - The one-year return for SIL is 167.2% compared to GDX's 136.8%, with SIL offering a higher dividend yield of 1.0% versus GDX's 0.6% [3][4] Performance & Risk Metrics - Over five years, SIL has a max drawdown of 55.63% while GDX has a max drawdown of 46.52% [5] - Growth of $1,000 over five years is $2,169 for SIL and $2,765 for GDX, indicating GDX's superior performance [5] Portfolio Composition - GDX tracks 55 companies in the gold mining industry, with top holdings including Agnico Eagle Mines Ltd (9.25%), Newmont Corp (8.88%), and Barrick Mining Corp (6.79%) [6] - SIL focuses on the silver mining sector with 39 holdings, heavily weighted towards Wheaton Precious Metals Corp (21.80%), indicating a more concentrated portfolio [7][12] Investment Implications - Both ETFs provide diversification and have a high correlation to the prices of their respective metals, with GDX having more holdings and a lower expense ratio [9][13] - SIL offers a higher dividend yield, and recent performance indicates that silver has outperformed gold [13][11]

Core Insights - The iShares Silver Trust (SLV) has higher fees and greater volatility compared to the iShares Gold Trust (IAU), but it has shown stronger recent returns [1][2] - IAU is characterized by lower costs and a larger asset pool, making it appealing for cost-conscious investors [1][4] Cost & Size Comparison - SLV has an expense ratio of 0.50%, while IAU has a lower expense ratio of 0.25% [3][4] - As of February 6, 2026, SLV's one-year return is 138.9%, compared to IAU's 73.0% [3] - SLV has assets under management (AUM) of $47.3 billion, whereas IAU has a larger AUM of $78.0 billion [3] Performance & Risk Analysis - Over a five-year period, a $1,000 investment in SLV would grow to $2,764, while the same investment in IAU would grow to $2,672 [5] - SLV provides targeted access to silver, while IAU offers pure-play exposure to gold [5][6] - Both funds do not disclose individual holdings as they hold physical metals, and they are designed for straightforward exposure to the underlying metal prices [6] Investment Implications - Owning a precious metals ETF can diversify a portfolio and serve as a hedge against inflation, with SLV and IAU being two respected options in this category [7]