Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Louis V. Lambrecht who wrote (7401)	5/2/2006 1:07:29 PM
From: TrueScouse	Read Replies (3) \| Respond to of 8010

Louis and G-T: Last week Barclays deposited 1.5 million oz -- not 15 million. My understanding of the way the ETF works is that they can only issue shares if the appropriate amount of silver is purchased and kept in trust. I'm also assuming that most of the initial investment in the ETF is "new money" -- i.e. it's not people selling the physical and buying the ETF with the funds raised. I bought 100 shares, for example, representing 1,000 oz of silver. IMO, this is 1,000 oz "taken off the market" (by me!) The SLV document shows that by the end of Friday, $263 million had been invested, backed up by 21 million oz of silver. The only way they can put some of that silver "back into the market" is if the net investment in the ETF falls -- and I don't think that's going to happen. I think it's going to grow steadily. I think that by the end of this month the total assets of the ETF will be between close to $1.5 Billion, backed up by over 100 million oz of silver. Hope this is clear! Regards, Howy