The U.S. dollar continues to plunge as traders continue to punish the greenback. One of the main beneficiaries of that is iShares Silver Trust (NYSEArca:SLV), which has jumped to a record high Monday.
iShares Silver Trust has more than doubled over the last year, rising early in the session by about 2 percent, soaring above $33 a share.
The silver ETF dropped last week, but today's rally has already overcome that plunge.
Spot silver is up by $0.50, reaching $33.88, as of 11:33.
With the PowerShares DB US Dollar Index Bullish Fund (UUP) down about 0.5%, that should be continually watched to see which direction the U.S. dollar may be going, as it could signal more weakness in the dollar if the UUP doesn't hold at support.
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