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Has the Silver ETF now bought all remaining silver

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Looks like the silver ETF has now almost sold all of Buffets silver and is asking for permission to start chomping a further 152 million Oz directly from the Silver market. Problem is there are only 105 million Oz remaining in the COMEX Warehouse ( http://www.nymex.com/sil_fut_wareho.aspx )will the shareholders of the SLV ETF end up holding all the available bullion silver ? and if so what price silver then ? :blink:

 

http://www.greenenergyinvestors.com/index....0&hl=silver

 

Thanks to mab (ADVFN)for the link:

 

http://www.jsmineset.com/

 

Posted On: Monday, October 02, 2006, 2:08:00 PM EST

In The News Today Author: Jim Sinclair

 

Jim Sinclair’s Commentary

 

A gift for the silver gang.

Barclays files to add shares to silver ETF

 

NEW YORK, Oct 2 (Reuters) - Barclays Global Investors on Monday said it had filed with the Securities and Exchange Commission to register 15.2 million new shares of the iShares Silver Trust , which has proven popular with investors as a silver play this year.

 

"It provides us with flexibility," said Barclays spokeswoman Christine Hudacko.

 

The registration would almost double the amount that could potentially be invested in the trust to 32 million shares.

 

iShares Silver Trust is traded on the American Stock Exchange. Barclays launched the exchange traded fund in April with a cap of about 16.8 million iShares available for investors.

 

"We are registering additional shares. That does not mean the trust is automatically going to buy additional metal," Hudacko said, adding that the SEC requires that a ceiling be established for the size of the fund.

 

The ETF is backed by silver bullion stored in vaults in allocated accounts. Each share is worth 10 ounces of silver, meaning that, fully subscribed, it could now hold 320 million ounces, an increase of 152 million.

 

Investors must buy the shares before the trust administrators will buy the bullion to back it.

 

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http://www.resourceinvestor.com/pebble.asp?relid=27509

 

...........Silver ETF: While silver metal on the cash market was mistreated over the past two weeks and plunged as much as $1.89 the ounce, metal holdings for Barclays’ iShares Silver Trust [AMEX:SLV], the U.S. silver ETF, skyrocketed by a stunning 325.5 tonnes to total 3,768.02 tonnes (121,144,585 ounces) worth $1.51 billion as of Friday’s figures. And get this; 279.02 tonnes of that titanic increase in silver holdings occurred on Thursday, December 21. Talk about positive money flow!

 

To put this eye-opening liquidity-induced silver positive money flow event into context, consider that the 279 tonnes of silver metal added to SLV’s holdings Thursday 12/21 is higher than each of the previous four monthly additions (November 153.8, October 14.09, September 123.02 and August 247.35 tonnes of silver added to SLV holdings). Not since the week following SLV’s April 28 inception has there been a 200-plus tonne addition in one day and only a few weekly totals top 200 tonnes, the last one way back in June (June 19-23, 264.16 tonnes).

 

So, positive money flow continued for SLV in a huge way. Does anyone doubt that investors are buying this dip for silver? ...........

 

 

silveretfza2.png

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"metal holdings for Barclays’ iShares Silver Trust [AMEX:SLV], the U.S. silver ETF, skyrocketed by a stunning 325.5 tonnes to total 3,768.02 tonnes (121,144,585 ounces) worth $1.51 billion as of Friday’s figures. And get this; 279.02 tonnes of that titanic increase in silver holdings occurred on Thursday, December 21."

 

very intriguing.

it looks like...

someone may be trying to corner the market through the silver etf.

could that work? possibly.

but there are various dangers in this strategy... as there would be dangers in try to do it thru physicals.

perhaps someone has worked out that the risks are less with the etf??

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"metal holdings for Barclays’ iShares Silver Trust [AMEX:SLV], the U.S. silver ETF, skyrocketed by a stunning 325.5 tonnes to total 3,768.02 tonnes (121,144,585 ounces) worth $1.51 billion as of Friday’s figures. And get this; 279.02 tonnes of that titanic increase in silver holdings occurred on Thursday, December 21."

 

very intriguing.

it looks like...

someone may be trying to corner the market through the silver etf.

could that work? possibly.

but there are various dangers in this strategy... as there would be dangers in try to do it thru physicals.

perhaps someone has worked out that the risks are less with the etf??

 

What are the possible implications of someone trying to corner the market?

 

And if the ETF really hold physical, the price should have reocketed, surelY?

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