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iShares Silver Trust Reaches $17 And Retreats

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iShares Silver Trust (ETF) (NYSE: SLV) shares are trading higher by 18 cents at $16.91 in Tuesday's session. The ETF, which tracks silver futures' price action, is trading higher for the fourth day in a row and for the seventh time in its last eight sessions. Over that time, it has gained nearly $1 since its August 24 close ($16.03).

After a higher open, it continued in that direction before finally peaking at $17.01 and reversed course. That high comes in between its April 21 high ($17.02) and its April 24 high ($16.99). Since stalling at that critical level, profit-takers have come in and nudged the ETF lower.

Also, it should be noted the ETF is higher by 16 percent since its July 7 low of $14.53.

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