Article- silver ready to launch??
tincup
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My apologies if this article has been posted already--- if so, I did not see it. This appeared in the Sunday Omaha World Herald, dated November 13, 2005, with an attribution to Dow Jones News. After reading the article, it definitely left a few questions in my mind....
"NEW YORK - As inflation fears grow, some advisers are steering their clients into precious or industrial metals as a way to add luster to portfolios.
Pinpointing the right vehicle in the world of metals investing isn't easy. But as demand has increased for hard assets to offset rising inflation, more products are croppping up to tempt even small investors into metal.
Barclays Global Investors, for instance, is planning to launch a new exchange-traded fund tracking silver called iShares Silver Trust, a cousin to two gold ETF funds already trading. The firm filed a registration statement with the Securities and Exchange Commission in June for the new product, but wouldn't comment on a timeline for its launch.
The planned silver ETF captured some attention last month, when a nonprofit U.S. silver industry group urged the SEC to reject the fund because it could buy up enough silver to make the metal too expensive or illiquid. That future demand for silver also could make a silver ETF attractive to investors."
Has anyone else heard much about this?? Any idea who the "nonprofit U.S. silver industry group" could be?? (perhaps part of the cartel that has controlled the price of silver for the past 10years? and are making a desperate attempt to keep the lid on the price??)
If the ETF does go through.... will any of you purchase it? Will this be the occasion that will finally allow silver to take off?? Sure sounds interesting to me!!
"NEW YORK - As inflation fears grow, some advisers are steering their clients into precious or industrial metals as a way to add luster to portfolios.
Pinpointing the right vehicle in the world of metals investing isn't easy. But as demand has increased for hard assets to offset rising inflation, more products are croppping up to tempt even small investors into metal.
Barclays Global Investors, for instance, is planning to launch a new exchange-traded fund tracking silver called iShares Silver Trust, a cousin to two gold ETF funds already trading. The firm filed a registration statement with the Securities and Exchange Commission in June for the new product, but wouldn't comment on a timeline for its launch.
The planned silver ETF captured some attention last month, when a nonprofit U.S. silver industry group urged the SEC to reject the fund because it could buy up enough silver to make the metal too expensive or illiquid. That future demand for silver also could make a silver ETF attractive to investors."
Has anyone else heard much about this?? Any idea who the "nonprofit U.S. silver industry group" could be?? (perhaps part of the cartel that has controlled the price of silver for the past 10years? and are making a desperate attempt to keep the lid on the price??)
If the ETF does go through.... will any of you purchase it? Will this be the occasion that will finally allow silver to take off?? Sure sounds interesting to me!!
----- kj
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