CureZone   Log On   Join
Image Embedded SLV adds record 572 tons of (paper) silver in one day
 
johng Views: 1,474
Published: 11 y
Status:       RRR [Message recommended by a moderator!]
 

SLV adds record 572 tons of (paper) silver in one day


the PM farce continues...   :

SLV Adds Record 572 Tons Of Silver In One Day, More Than In All Of 2012

 
Tyler Durden's picture




Technically the addition of 572 tons, or a massive 18,378,092 ounces of physical silver, to the SLV ETF, in one day is not a record, as it excludes one amount which however was a year end rebalance at the end of 2007 offset promptly on the next day, but it certainly is the biggest one day addition of physical silver to SLV in ordinary course operations. It is also more silver added to the ETF in all of 2012, when just 544 tons were added in the entire year. This was driven by the creation of some 19,000,000 shares of SLV overnight which brought the total to 356.8 million shares. And since there has been no move in the price of silver, which certainly would have soared had this amount been purchased in the open market we can only assume this has to do with in kind basket creation taking place. Whether this was due to arbitrage, or simply the need to create inventory we don't know: we are confident however, that SLV custodian, money laundering expert extraordinaire HSBC, will have no comment. Just as there is no comment why in the days following the epic May 1, 2011 take down of silver, a nearly just as large 522 tons of silver poured out the ETF on May 4, 2011. What is certain is that a move of this size is certainly notable.

http://www.zerohedge.com/news/2013-01-17/slv-etf-adds-record-572-tons-silver-...

(comments well worth a read)

 

 
Printer-friendly version of this page Email this message to a friend

This Forum message belongs to a larger discussion thread. See the complete thread below. You can reply to this message!


 

Donate to CureZone


CureZone Newsletter is distributed in partnership with https://www.netatlantic.com


Contact Us - Advertise - Stats

Copyright 1999 - 2024  www.curezone.org

0.080 sec, (2)