« Don't Scrap Your Estate Jewelry...Sell It. | Main | Stolen Diamond Slippers Returned! »
Precious Metal Silver Turns "Golden"!
Silver surged to its highest in more than 22 years on Wednesday on strong speculative buying after U.S. regulators took a big step towards finally approving the market's first exchange-traded fund (ETF).
The Silver Surfer
The fund, to be backed by physical metal, has the potential to bring fresh investment to the market and soak up supply, dealers said.
"Of course you have had the good news about the silver ETF. It's not the final approval but is pretty close to it," said John Reade, precious metals analyst at UBS Investment Bank.
"If you get 50 million ounces of silver for the ETF, it will have a big impact on the market."
Spot silver
Silver, used in jewelry, electronics and photography, has risen nearly 20 percent since the start of 2006 in anticipation of the fund launch.
Dealers said the market might have about 600 million ounces of silver available for delivery, including holdings by central banks, dealers and other banks.
But the figure excluded billions of ounces in the form of jewelry accumulated by consumers over generations but not available for immediate delivery.
The Securities and Exchange Commission said on Tuesday it approved rule changes that would allow the American Stock Exchange to list shares in Barclays Plc's
Before the Silver Trust shares can begin trading, the commission would have to approve a registration statement allowing the shares to be publicly issued.
The fund would be backed by silver bullion held in vaults in London, with each share worth about 10 ounces of silver.
"With the scale of fund interest already expressed, I still believe the actual launch of the ETF will drive silver prices towards $12," James Moore, analyst at TheBullionDesk.com, said in a daily report.
Comments
Hi everyone I love catching up on peoples blogs and seeing whats heading on Im a pharmacy assistant and Ive little time to catch up on the web but I do try.
Posted by: darmowe porno on February 25, 2011 4:18 PM
This is getting a bit more subjective, however this is a great blog.keep up the good work.
Posted by: Luigi Fulk on March 30, 2011 7:09 PM
It took me time to learn all the tips, but I honestly loved the blog post. It proved to be very worthy to me and I'm certain to all of the followers here!
Posted by: Sinus Migraine on March 31, 2011 9:16 PM
What’s Happening i'm new to this, I stumbled upon this I've found It positively helpful and it has aided me out loads. I hope to contribute & help other users like its helped me. Great job.
Posted by: fitness on April 22, 2011 2:54 AM
I've wanted to publish a thing like th is on a person of my blogs and th is has given me an concept. Cheers.
Posted by: rosetta stone cheap on April 22, 2011 2:54 PM
Th is information really helped me, I'm sharing with a couple of friends.
Posted by: Cheap Christian Louboutin on April 23, 2011 1:48 PM
You actually make it seem very easy together with your presentation but I've found this topic to be actually a thing that I think I would never understand.
Posted by: wardrobe storage on April 24, 2011 4:55 AM
I'll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)
Posted by: Christian Louboutin Sandals on April 24, 2011 10:33 PM
Ditto! I've recognized th is d isease: Prom iscuous Model Creativity.
Posted by: Rosetta stone languages on April 25, 2011 10:53 AM
You actually allow it to be seem very easy together with your presentation but I find this topic to become actually something which I think I'd never understand.
Posted by: cake pops on April 26, 2011 3:12 AM
You really make it seem so easy together with your presentation but I've found this topic to be actually something which I think I would never understand.
Posted by: cake pops on April 26, 2011 3:38 AM