Silver exchange traded funds have been stuck in a relatively narrow range after the big spring sell-off. Higher margin requirements and signs of life from the dollar have weakened the metals ETFs.

Still, the second half of the year has historically offered a good showing in precious metals prices.

The iShares Silver Trust , which is backed by physical silver bars, saw more than 1,300 tons of silver removed from its vaults in 2011 through June 23, with some 500 tons liquidated from the fund in just a few days when silver prices peaked near $50 an ounce, writes Dr. Jeffrey Lewis for SilverSeek.

Silver continued its decline after U.S. jobless claims dropped to 428,000 last week and a spike in financial market uncertainty, reports Murray Coleman for Barron’s.

According to a Barclay’s note, a “risk-off” trade in commodities shows the scope of the ongoing concerns.

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