Looks like the silver ETF is gonna be reality.
HonoluluDude
Posts: 2,167 ✭
HonoluluDude
Posts: 2,167 ✭
HonoluluDude
Posts: 2,167 ✭
Comments
change and cause silver to go to much higher levels. It's still more probable though that the
eventual trigger will be a physical shortage of the metal. As more is destroyed in industry or
goes into strong hands the sooner comes the shortage.
<< <i>What does that mean............???????.........
In a nutshell, it means the price of silver will go up.
<< <i>What does that mean............???????.........
It means hold silver if you got it, buy it if you don't ! Then enjoy the ride.
one share would be like 10oz of silver.
<< <i>What does that mean............???????......... >>
It means "bad news" to coin shops. The spread on silver was pure gravy. It will cut into physical buying. Not that physical silver will go...down.. but less will be purchased in physical form.
I like it very much!!
Knowledge is the enemy of fear
<< <i>is it worth buying shares once this creature is allowed to exist?
one share would be like 10oz of silver. >>
Gates and Buffett took physical silver and not paper shares...I think I will follow them
<< <i>No worry about robbery. >>
What about the ETF.....CUSTODIANS????
from a vault. it seems like someone would notice
12 million shares based on 129 million ozs.
interesting but definitely not a new concept as the article states
for gold.
edited to add: unless there never was any silver in the first place
just a pretty picture on a conference table.
<< <i>it would be tough to steal 129 million ounces of silver >>
Has anyone SEEN the 8000 ....TONS.... of gold that are ...supposed...to be in Fort Knox?
<< <i>12 million shares based on 129 million ozs. >>
Lessee.....12 million shares....
875 ...jillion... silver "nuts" in coin shops.
Only 10% will trust paper shares.
Then Brad & Janey see the dollar turning to toilet paper.
Annnddd......
The fund needs a bit more....
annnnddd......
lemme get my abacus.
<< <i>
<< <i>it would be tough to steal 129 million ounces of silver >>
Has anyone SEEN the 8000 ....TONS.... of gold that are ...supposed...to be in Fort Knox?
Hey, come on now...predident Bush said it was there
freak
If each share is 10 oz, at the current silver price that 'stock' will be $100 a share.
And for every $1 price change in silver, the stock price will swing $10. Every dime would be $1 in share price.
That's volitile. And kind of the opposite if GLD which is trades at $55 a share when Gold is at $550 oz.
I may be totally wrong on this, but I think that' how it'll work.
As for GLD, here's a picture of the actual GOLD !!!
http://www.streettracksgoldshares.com/us/value/bar_list.php
<< <i>
<< <i>What does that mean............???????.........
It means hold silver if you got it, buy it if you don't ! Then enjoy the ride. >>
Not exactly. The lead article on kitco.com about the ETF says, "However, if history is any guide, the trend with gold ETFs introduced around the globe has been a run-up in the weeks up to the launch with a pullback in the weeks after the start of trading."
(I couldn't link it, because the URL had "market watch" in it, and T followed by WAT is forbidden, even though I replaced the URL with the text "This article". Board censor logic needs updated.)
TC71
Earlier this week in a filing, Barclays said 1.5 million ounces of silver had been deposited in the trust, which is slated to charge a sponsor fee of 0.5% of assets.
<< <i>So I guess there will only be 150,000 shares to start off with since they only have 1.5 million oz of silver right now?
Earlier this week in a filing, Barclays said 1.5 million ounces of silver had been deposited in the trust, which is slated to charge a sponsor fee of 0.5% of assets. >>
They are probably buying up a lot more on the market right now... strange that with such a "plentiful", "pedestrian" metal they couldn't just order the 130M ounces they want instead of a million at a time...
I wonder how the gold ETF stocked their vault? All at once or a million at a time?
Anyway, interesting times ahead!
<< <i>
Not exactly. The lead article on kitco.com about the ETF says, "However, if history is any guide, the trend with gold ETFs introduced around the globe has been a run-up in the weeks up to the launch with a pullback in the weeks after the start of trading."
>>
Considering there has been no run up this week, I'd consider that statement moot.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
My posts viewed
since 8/1/6
<< <i>What ever Silver decides to do I will own shares of "SLV" as soon as i can buy it. >>
It is scheduled to begin trading tomorrow.
Happy trading.
Knowledge is the enemy of fear
~I think I am right even if I am the only one left~
I am not sure why people are big fans of paper bullion. I dont see how it has "real" value. And to top it off you dont even get the paper! Why not just buy nice eagles or something?
I would think that having the actual substance would be better for investors.
Michelle
When I check SLV it shows that trading halted.
<< <i>Shares of the silver ETF were up 19 cents to $129.19 in early trades Friday. >>
And this might be of interest to you......
Judging by investor confusion over the tax issues with the existing gold ETFs, it should be noted silver, like gold, is classified as a "collectible" by the IRS -- if held for more than one year, gains are taxed at a 28% rate, compared with the 15% rate applicable to most other long-term capital gains
<< <i>Does anyone know what happened to the etf??
When I check SLV it shows that trading halted. >>
Trading 400,000 shares at $131
my question is, will high demand for the ETF raise the price of Silver or the other way around.
I have my answer. The higher the demand for the ETF, the more Silver they will have to buy, thus driving up the price of silver.
I would think that having the actual substance would be better for investors.
Where the heck would I put 10,000 ounces? In the freezer?
I am skeptical that any ETF in the world is taxed like a collectible. Sounds highly incorrect.
UBS similarly lifted its forecast for gold prices to $630 an ounce in 2006 and $750 in 2007 from $560 and $600 respectively.
"UBS continues to expect the dollar to fall in the medium to longer term and a signal from the U.S. Federal Reserve that it has finished its tightening cycle may be the trigger," it said.
The bank estimated silver prices at $13.4 an ounce in 2006 and $15 in 2007. It saw platinum prices at $1,100 an ounce this year and $1,200 in 2007.
WOW, that ETF moves $1 for every penny move in Silver.
.10 cent move in silver = $10 in the ETF.
You can make and lose a lot of money real fast.
<< <i>WOW, that ETF moves $1 for every penny move in Silver. >>
No, it moves 1 dollar for every 10 cent move in silver. Each share is backed by 10 troy ounces of silver.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>
<< <i>WOW, that ETF moves $1 for every penny move in Silver. >>
No, it moves 1 dollar for every 10 cent move in silver. Each share is backed by 10 troy ounces of silver. >>
Yep, just realized my mistake. And I didn't get a chance to edit be for you came in. Dang.
Still a lot though. It opened at $129 with Silver at $12.90 and is now at $139 with silver at $13.90
<< <i>Yep, just realized my mistake. And I didn't get a chance to edit be for you came in. Dang. >>
Of course, the fund does assess a .5% per year administrative fee. Better than paying storage and insurance fees on bullion though, I guess. I'll probably take a position in this fund at some point, although I'll keep buying bullion also.
My icon IS my coin. It is a gem 1949 FBL Franklin.