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Investors selling gold etf's to buy silver
BigE
Posts: 6,949 ✭✭✭
Short blurb on Kitco:
(Kitco News) -There are signs that exchange-traded fund investors in gold are selling and buying silver, says Tom Pawlicki of MFGlobal. “Holdings in the GLD and IAU funds based in the U.S. have fallen 445,067 ounces in the first two days of this week while holdings in the SLV silver ETF have increased 6.47 Moz. If the holders of the gold ETF continue to liquidate, it can foreshadow further declines in price,” he says. He also notes that between Sep 28th and Oct 19th gold prices have fallen in 7 of the last 10 years by 1.8%.
Not sure what 6.47 Moz is, lots of crummy spelling and writing in these articles lately, makes you wonder about the content
------------------------BigE
(Kitco News) -There are signs that exchange-traded fund investors in gold are selling and buying silver, says Tom Pawlicki of MFGlobal. “Holdings in the GLD and IAU funds based in the U.S. have fallen 445,067 ounces in the first two days of this week while holdings in the SLV silver ETF have increased 6.47 Moz. If the holders of the gold ETF continue to liquidate, it can foreshadow further declines in price,” he says. He also notes that between Sep 28th and Oct 19th gold prices have fallen in 7 of the last 10 years by 1.8%.
Not sure what 6.47 Moz is, lots of crummy spelling and writing in these articles lately, makes you wonder about the content
------------------------BigE I'm glad I am a Tree
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If all the money from the gold went to silver, and no one else bought (or sold) silver ... all near-impossibilites ... it would have been 24 Moz into silver, so I'm not sure the premise holds water completely
I'm sure some money played the switch though
If I was a paper guy, I would have been tempted at a GSR over 55
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242